10-26-2017, 11:17 AM
(10-26-2017, 08:48 AM)BobbyDaSilva Wrote:(10-25-2017, 11:23 PM)rangersfan Wrote: The City of Kitchener is considering lowering the asking price for 152 Shanley St, which I think is a positive step in order to get the ball on potential redevelopment rolling.
http://kitchener.ctvnews.ca/asking-price...-1.3648873
The City needs to pre-zone for additional density and drop the purchase price to $1 before we see any action on it imo. Too much hair on it.
I agree. They're going to be asking about half a million an acre for this site, but it's got a building that needs to be demolished after possible heritage headaches, and needs possibly very expensive remediation. And there's no guarantee of being able to build any given density here, given that it's a residential street with no buildings over three storeys around.
I don't see any way this property can be unloaded without being proactively up-zoned to give some assurances of what can be built.