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June 25, 2007

Real Estate Speculation

2007_06_22QueenPortland.jpg

Developers RioCan bought the parking lot at the corner of Queen Street West and Portland back in 2005. Immediately, rumours started to circulate that a big box store, like Home Depot, was going to be built at the site. At the time, The Globe and Mail reported that RioCan planned to start building in 2007. Which is now. So what's happening with the project?

In August 2006, Spacing Wire reported that activists had met at the Cameron House to voice their opposition to big box development. They hoped that development would be thwarted by a city-owned, right-of-way that cuts the lot in two. It wouldn't be easy building a big box store with a four-metre lane running through the middle of it (building over the right-of-way would still require city permission). Others have been actively campaigning to get the parking lot a heritage designation (possibly as the place where the Kids in the Hall filmed their Naked for Jesus sketch). Nothing happened for a while, and it seemed like the big box building had been averted.

Flash forward to May 2007, when The Star reported that RioCan were proposing a condo for the site. While technically not a big box development, it would feature two large retail spaces (one, three storeys high) that would likely be occupied by a chain, like Home Depot, and a supermarket. How will they get around the right-of-way issue? Some say that RioCan will simply buy up the buildings that share the lane. So far, that hasn't happened, but plans have been drawn up for multi-storey retail spaces. While the site is not yet leased, RioCan is actively courting tenants. At the moment, local business people seemed resigned that whether it's a Home Depot or a Future Shop, some big international retailer will be setting up shop at the site.


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Comments (7)

Are you serious? Someone actually tried to get a parking lot designated a heritage site?

I used to live across from the southeast corner of the lot, at Richmond and Portland, and never thought of it as anything but an eyesore. I did like the break dancing and graffiti events held there, but that was just a couple weekends a summer. I also hated that there were no groceries around for miles.

What would be so bad about having a big retail development there with a supermarket? And with condos, adding more residential density to boot!

 

Wot a horrible design. Why don't we all go back to the early 90's.

No though whatsoever toward making something progressive that would fit into the neighbourhood.

 

Doesn't that area desperatly NEED a grocery store? If you live in the University-Dundas-Spadina-Richmond area there's really not much to walk to. Yes, Kensington and Chinatown are good, but not enough.

 

Please don't let the glass be green ... please ...

(And I hope there's a *lot* of parking underground here, and that they permit overnight parking. You can't even eat lunch on a Monday around here without a parking ticket, and that's been one of the only places to send overnight guests to park.)

 

As someone who lives in the area, I wouldn't mind a large, competitively priced grocery store. Right now I have to resort to the overpriced Fresh and Wild or Kitchen Table, or bike/cab/walk to Dominion in Liberty Village or Price Chopper at Queen/Gladstone.

 

Oh, and the area desperately needs a liquor store!!

 

This is something I've been noticing on Queen West: older buildings are being torn down and new retail shops are being put up. The old buildings had residential rental units on the second floor, but the new ones are all retail.

I think that many developers fail to realize that the reason why Queen West is so great is that it's not just retail--people live and work in the area as well. By going all-retail I think the developers are killing the goose that is laying the golden egg of high rents.

At least this development would also have residential units, but there are a couple now that do not.

 
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