Quote:
Originally Posted by GilmoreStation
It's too late now for Metrotown to redevelop itself. It's too costly to demolish Sears and the underground parking underneath to buiild a condo in that tight spot.
If anything, maybe start from Target, but that's not currently owned by Concord.
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Given the housing market/prices in the area, it's probably more costly for them right now to have a Sears that's most likely not doing as great sales-wise, and a parking lot which, while used fairly often, is still losing you considerable revenue from what would be (30-40-50 storey towers worth of) units and retail podiums and office space rental.
But it's Concord we're talking about here, so they're not exactly hurting for more streams of revenue, and can probably afford to sit on the project for a while, as all the 'right-of-way' and easement issues get hammered out and sorted in the courts.
And it's not a tight spot by any stretch of imagination.
It's roughly the same size (overall area-wise) as the lot across the street (Bennett) in the lot between Benett and Imperial and Nelson and Marlborough where you currently 3 towers with 4 more under construction and/or planning stages for a total of 7 towers.
Which is what their own proposal is for.
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