They have invested a BUNCH of money into this site, remediation, design and marketing... it's only a matter of time before they proceed (efforts/capital currently redirected/refocussed elsewhere) or they sell it as-is with a nice rezoning.
They are probably waiting for AEP to respond to a submitted Remediation or Risk Management Plan report to confirm that AEP will not require further remediation before construction begins, as once it begins if further remediation is required it will be very difficult, if not impossible, to complete. It can often take quite a long time for AEP to respond to some of these reports so he is probably not wrong.
I think that I mentioned this a couple of years back -- the testing & remediation process is tedious and time-consuming. As per @westcoastjos comment, however, there are many options to improving the site from streetside and, if Raj were more community minded, he would have at least made that effort.
Agreed. I can certainly empathize with the development taking so long to finally commence. There are so many moving pieces, especially on a previously contaminated site, and the world has been turned upside down so hard in the past 18 months it's forgivable to not have a structured being constructed.
It's the lack of perceived give-a-**** for the condition of the site that annoys most, when the effort/$ required to make it look half acceptable is minimal in the grand scheme of an eight figure project.
To be fair, Regency is close to completion on 121 West, while near topped out on their Holyrood Redevelopment. Not defending any of their sites, but you can't argue that they are not one of the most active developers in Edmonton.