The Shannondale (née Electrohome, 152 Shanley St) | 8 fl | U/C

[jeffster]

The site is among the most contaminated in the Region.  There are offsite impacts that the owner (and new future owners) are responsible for unless other arrangements are made.  The city doesnt want to be that owner ( no kidding!) And neither does anyone else until at least the off site responsibilities are removed from the equation.  The Ministry of the Environment holds those cards...

To make it worthwhile, you would need to demolish the building, fight the "Save the Clock Tower" people, fight city hall (though I have no idea what it's zoned for), fight the NIMBY's, and fight LPAT. You need to probably dig fairly far down, so lots of shoring up, so only a really tall apartment building or condo for the payoff. By tall, I mean at least 20-25 floors minimum. The clean-up job will be in the millions.

I am not interested in this property. Not worth the headaches.