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

[jeffster]

It's a 0.35ha property, easily worth $3-4M once it's been remediated. Were there no existing building, remediation cost would likely be in the $500K to $2M range, but no one will really know until they check the soil contamination, which the current owner has not done.

It may be that it's not realistic to save the existing building. And it may be that development would be complex. But that does not excuse the behaviour of the current owners to date.

I think remediation is going to be much higher than $2M. But that's not the only cost of that, you also have legal costs and a lot of other costs. As for the current owner, I have no idea what they're thinking, as it makes no sense for them to have repurchased the property.

My granddad worked for GE, and the chemicals they used were insane. I imagine Electrohome had the same type of chemicals, like PCB's. This stuff would have likely seeped fairly deep into the ground. And I think that ground contamination might be much greater than we know. Possibly to the point of under the surrounding homes. I can't even begin to imagine the headache this place is going to give either to the current owner or city. Really sucks of its location.