Development Merry Go Round

Councilor Adam Vaughan was one of the city officials to vote down Brad Lamb/Peter Clewes project next to King Street's Royal Alexandra Theatre .

I can see his reasoning, part of making a livable city is to have a mix of old and new. If there is too much development, the new buildings will have lease rates will based on today's construction costs and the older properties will have property taxes based on the value from the development potential.

This results in fewer cool and trendy local shops that gives a neighborhood an identity and replaces them with big chains than can afford the higher costs.

On Brad Lamb's side, there are very few sites that make sense, and those that have potential are priced high as owners hope developers will speculate and buy their property.


Councilor Vaughan will be appearing on Inside Toronto Real Estate on April 21st.

Peter Clewes and Brad Lamb will also be appearing on a future episode.

Stay tuned as we will see Royal Alexandria project come up again (going to the Ontario Municipal Board for appeal).

Source: National Post:
Community council rejects King St. tower