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A major mixed-use complex proposed for the junction of the O-Train system is eligible for $8.3 million in fee breaks thanks to a city program that helps builders clean contaminated soil in key areas.
But that’s as far as the discounts should go for now, according to the councillor who represents the property at 900 Albert St., near Bayview station.
In a report published Tuesday, the city says it wants to waive an additional $920,000 it would normally demand when developers require city land.
In the case of 900 Albert St., which is next to the City Centre complex, there are sanitary and storm sewers cutting through the property about seven metres below ground and the developer, TIP Albert GP, needs to relocate the infrastructure to complete the soil remediation and ultimately build a three-tower residential and retail complex.
The infrastructure would be relocated in the Trillium Line corridor, which is city land. City staff say the developer will pay the full cost of moving the sewers, estimated at $10.7 million.
A council-approved policy calls for the collection of market value for any city land used by private developers.
Staff, however, recommend waiving the price to encourage the planned development.
“Relocating the civic services on city property will help contribute to the creation of a complete mixed-use community and allow intensification in accordance with city council policies of a large vacant and contaminated site,” staff write in the report.
Somerset Coun. Catherine McKenney says she has “serious reservations” about waiving the $920,000.
In her written comments included in the report, McKenney says the total scope of the redevelopment, including specific features, should be tested before giving the developer more fee breaks.
“These features should include the provision of 11 affordable housing units, contributions to the nearby active transportation network and considerable animation to the ground elevation on the south facade of this proposal as required in the (community design plan) for this area,” McKenney writes.
The city has a brownfield remediation program to help property owners with the costs of cleaning contaminated soil and starting development.
TIP Albert GP is eligible to receive $8,255,397 in fee breaks for 900 Albert St. under the city’s brownfield program.
The six-month cleanup plan calls for about 65,000 cubic metres of soil to be trucked out of the site to a waste disposal facility. There will need to be a portable groundwater treatment system installed at the property.
The Trillium Line and Confederation Line LRT meet at Bayview station.
The property at 900 Albert St. has been used as a rail yard, storage yard and snow dump. It has flipped hands in the development industry and is now under the ownership of TIP Albert GP, which is a partnership of multiple firms.
Trinity Developments in recent years has been working on the massive project, which it coined Trinity Station. InterRent Real Estate Investment Trust announced last month it has invested in the project with Trinity and PBC Real Estate Advisors.
The most recent development proposal filed at city hall calls for towers with heights of 59, 55 and 50 storeys. The complex would have 1,632 residential units, 10,864 square metres of retail space and 17,442 square metres of office space.
Council’s finance and economic development committee will consider the brownfield fee breaks next Tuesday.
jwilling@postmedia.com
twitter.com/JonathanWilling
查看原文...
But that’s as far as the discounts should go for now, according to the councillor who represents the property at 900 Albert St., near Bayview station.
In a report published Tuesday, the city says it wants to waive an additional $920,000 it would normally demand when developers require city land.
In the case of 900 Albert St., which is next to the City Centre complex, there are sanitary and storm sewers cutting through the property about seven metres below ground and the developer, TIP Albert GP, needs to relocate the infrastructure to complete the soil remediation and ultimately build a three-tower residential and retail complex.
The infrastructure would be relocated in the Trillium Line corridor, which is city land. City staff say the developer will pay the full cost of moving the sewers, estimated at $10.7 million.
A council-approved policy calls for the collection of market value for any city land used by private developers.
Staff, however, recommend waiving the price to encourage the planned development.
“Relocating the civic services on city property will help contribute to the creation of a complete mixed-use community and allow intensification in accordance with city council policies of a large vacant and contaminated site,” staff write in the report.
Somerset Coun. Catherine McKenney says she has “serious reservations” about waiving the $920,000.
In her written comments included in the report, McKenney says the total scope of the redevelopment, including specific features, should be tested before giving the developer more fee breaks.
“These features should include the provision of 11 affordable housing units, contributions to the nearby active transportation network and considerable animation to the ground elevation on the south facade of this proposal as required in the (community design plan) for this area,” McKenney writes.
The city has a brownfield remediation program to help property owners with the costs of cleaning contaminated soil and starting development.
TIP Albert GP is eligible to receive $8,255,397 in fee breaks for 900 Albert St. under the city’s brownfield program.
The six-month cleanup plan calls for about 65,000 cubic metres of soil to be trucked out of the site to a waste disposal facility. There will need to be a portable groundwater treatment system installed at the property.
The Trillium Line and Confederation Line LRT meet at Bayview station.
The property at 900 Albert St. has been used as a rail yard, storage yard and snow dump. It has flipped hands in the development industry and is now under the ownership of TIP Albert GP, which is a partnership of multiple firms.
Trinity Developments in recent years has been working on the massive project, which it coined Trinity Station. InterRent Real Estate Investment Trust announced last month it has invested in the project with Trinity and PBC Real Estate Advisors.
The most recent development proposal filed at city hall calls for towers with heights of 59, 55 and 50 storeys. The complex would have 1,632 residential units, 10,864 square metres of retail space and 17,442 square metres of office space.
Council’s finance and economic development committee will consider the brownfield fee breaks next Tuesday.
jwilling@postmedia.com
twitter.com/JonathanWilling
查看原文...
