Coun­cil signs off on $9M in devel­op­ment in­cen­tives

Metro Canada (Ottawa) - - Front Page - Kieran de­la­m­ont

City coun­cil ap­proved over $9 mil­lion in in­cen­tives Wednesday to a de­vel­oper plan­ning a mas­sive condo pro­ject near the fu­ture Bayview LRT sta­tion.

The de­vel­oper, Trin­ity Group, is plan­ning to build three condo tow­ers at 900 Al­bert St., The tow­ers will con­tain over 1,600 res­i­den­tial units and will in­clude both re­tail and of­fice space.

The $9 mil­lion com­prises $8.2 mil­lion in brown­field devel­op­ment grants — money given to de­vel­op­ers who agree to clean up con­tam­i­nated land — over the next 10 years.

It also in­cludes a deal to waive a $920,000 fee for the use of city land. There are pipes and sew­ers cross­ing the prop­erty, which the de­vel­oper will move on to city prop­erty. The nor­mal pol­icy is to charge market value for that land, but in this case the city has agreed to bring the price down to a nom­i­nal $1.

That $920,000 has been a point of con­tention for Coun. Cather­ine Mcken­ney, who told the fi­nance and eco­nomic devel­op­ment com­mit­tee last week that “we are going to give land away for a mil­lion dol­lars, and I would just like to know if in fact the ap­pli­cant is look­ing at the pub­lic realm and the ben­e­fits to the com­mu­nity.”

Lo­cated at what will soon be the junction of the city’s two LRT lines, the pro­ject has been called “coun­cil’s poster child” of tran­sit-ori­ented devel­op­ment by direc­tor of plan­ning ser­vices Lee Ann Sned­den.

Coun­cil voted nearly unan­i­mously to ap­prove the deal, with Mcken­ney as the only dis­sent­ing vote.

Metro | ottawa

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