Just invested in this area myself. There is so much potential along Alberta avenue, I really hope to see more of these types of commercial redevelopments. Hope these guys can land some marquee tenants!
I think the entire Alberta Avenue area could really benefit from some sort of cohesive plan which addresses the design of housing, more mixed zoning and interesting and varied transportation connections. It's a beautiful area nature-wise and has some of the oldest trees and houses in the city, but at the moment it's like a questionable mixed goody bag of ancient dilapidated bungalows to "meh" designed infill homes and everything in between. If we could recreate what other older Canadian cities' neighborhoods have in the "missing middle", like rows of townhomes and mixed-use buildings, I think this neighborhood would be the perfect candidate for that. (while keeping the historically significant houses and buildings too). Here's pictures of what I'm kinda talking about:
These Townhomes in Vancouver:
Montreal has a lot of what I like (wanna visit when I can haha):
If this could be recreated without looking too tacky in Alberta Avenue I think this could be quite the destination neighborhood. Could you imagine this with a Streetcar meandering down 118th ave?? T'would be beautiful! Of course, along with new expensive development, affordable housing should be included and tactfully placed throughout the area to help prevent pricing out the existing residents.
So, I have come across some information on this reno. They have a tenant lined up already and it will be a relocation - the Carrot Community Arts Coffeehouse is moving here from their old location!