Sadly, I think this is probably the case. However, I would prefer if something were built further north on some of the empty or underutilized lots a bit further north. It may not be as dramatic, but might do more to improve the area.
Been about 16 months since this post. Wouldn’t surprise me if it’s another 16 before a construction trailer ever shows up to site. Enjoy the park!
Based on Alldritt's sites across the city, I don't think we'll see any development on this property, ever.
And I doubt we see anything on any of their properties. They don't seem to keen on getting things going at all.
I would think they’re just busy with their bread and butter in larger scale SFH suburb development and watching the market carefully for the correct opportunity for their various sites. Lots of empty dormant lots around the city are owned by developers that are doing just that—just don’t notice it since they aren’t white fenced with the developer’s signage like Alldritt. At least they have the curtesy to have them nice and maintained.
I used to live pretty close to that site and I’ve wondered why the slow feet to develop something there—but it could be for any number of reasons. Maybe they’ve been wanting to purchase the lowrise next door to fulfill what they have envisioned for that site. Maybe they’re slow acting and don’t have much interest in multi fam at this point in time.
mind-boggling isn't it! covid, work from home, supply chains collapsing, inflation rampant and interest rates rising, restricted capital availability for both debt and equity, changing mortgage qualification issues, all out war in eastern europe...
true enough... but they've stopped innumerably more than those that have proceeded - with good reason - and many of those that it didn't stop are struggling if not downright under water.
there are always problems in the world... waiting for the perfect time to build this tower will mean waiting a very long time indeed...
Yeah but the current problems in the world regarding logistics and supply chain issues, coupled with heightened risk and uncertainty are almost guaranteed to stall a project with some of the engineering curiosities a project like this one has.