Rezoning approved for East City project
A plan to build 259 rental apartments behind Time Square in East City moved forward again on Monday when councillors gave final approval to rezone the land.
The rezoning was ratified at a city council meeting Monday after having been given preliminary approval at a committee meeting Nov. 12.
There was no debate or discussion.
The proposal is for an 11-storey building, an eight-storey building and a trio of three-storey buildings, all with a connecting lobby.
There would also be three storeys of underground parking built into the slope of the land.
All this would be built on a 10-acre property on the southeast corner of Hunter Street East and Armour Road.
The Skyline Group of Companies, which owns and operates Time Square, is planning the development. Time Square already has 152 apartments; the Westclox building was converted into apartments in 1986. The building also has commercial
Developer Greg Jones of Skyline told councillors on Nov. 12 that the complex will cost $75 million to build.
Jones also said he plans to rent the apartments at market rate — roughly $1,800 for a two-bedroom unit, for example. He didn’t mention any plans to include affordable or subsidized apartments.
But city planner Carolyn Kimble told councillors she’s spoken with Jones about it and he may consider including affordable apartments.
She also said council can offer incentives to developers to have affordable units.
New traffic signals will have to be installed at Maria Street and Armour Road to accommodate the added vehicles from the apartments, at the developer’s expense.
At the meeting Nov. 12, Coun. Keith Riel said he had concerns about signalizing that intersection because congestion already occurs in that area due to singlelane streets plus the swing bridge at Maria Street.
Jones said at an open house at Time Square in June that construction on his complex was still nearly two years away.
Other developments planned for East City in the next few years include:
> Ashborough Village (707 homes east of the Lift Lock Golf course);
> New Canadian Canoe Museum (next to the Peterborough Lift Lock);
> East City Condos (a ninestorey condominium building on the vacant southwest corner of Armour Road and Hunter Street East, next to the former hospital).