Ontario Construction News staff writer
Strathroy-Caradoc Council has approved a proposal for a 14-storey apartment building in Strathroy, which will become the tallest structure in the largely rural western Ontario municipality. The proposal is expected to go before council again by this fall or earlier. The project would qualify for a capped incentive of $175,000 from the Community Improvement Plan.
The Record reports that Southside Management and Construction Limited purchased a closed seniors centre at 137 Frank St. by Alexandra Park for $1.75 million from Strathroy-Caradoc.
Municipal officials reassessed the deal after the local Conservation Authority determined the Sydenham River floodway took up the whole lot minus the current building’s footprint, DataBid.com says in a recent eletter, citing other publications. The price stayed the same, but the municipality added a stipulation that 20 of the up to 180 total units would be available at 80 per cent of the market rental price to make it more affordable.
Mayor Joanne Vanderheyden said the Southside building’s plans would possible commercial uses on the structure’s ground floor, Strathroy Today reports.
The deal will close within 30 days of the re-zoning and Official Plan Amendment being approved by council. Municipal staff said they expect the land’s use next steps will go before the council in the early stages of this year’s third quarter if not earlier.
A significant amount of background work will be required the development because of constraints including to a number of constraints including potential Snydenham River flooding, Entregus lines and substation servicing capacity.
The Conservation Authority would not allow any development in the floodway, which covers nearly the entire property with the exception of the the existing building’s footprint.
A change in the material terms of the Agreement of Purchase and Sale related to the building envelope required that the agreement be revisited and revised. The staff also included the requirement of an easement along the south side of the Sydenham River to allow construction of a trail if it is required in the future. The easement across the property connecting Frank Street to the bridge and parkland is being maintained, the published reports say.
