Sudbury mayor wants conditions on new rental housing deal with developer
The mayor of Greater Sudbury is throwing his weight behind a proposal that could see 83 new residential units come out of the old Scotia Tower downtown.
It's being proposed by Panoramic Properties -- a rental property developer who also owns the old General Hospital building -- and has been outlined in a city report.
The total cost of the project located at the corner of Cedar and Durham streets is estimated to be $19.8 million.
"At a time when all housing availability is critical, the creation of 83 new residential units in the heart of our city is a significant step in addressing our growing housing needs," Greater Sudbury Mayor Paul Lefebvre said in a statement Monday night.
"A housing project of this magnitude has not been seen in our downtown in decades.
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Top of old Scotia Tower on the corner of Durham and Cedar. Oct. 8, 2024 (Shelley Mayer/CTV Northern Ontario)
If approved, the work would include significant changes to the facade of the building.
It would also help the city boost the downtown population, which is part of its strategic plan and utilizes existing infrastructure.
A grant has been requested from the city of $1.7 million but would also come with economic benefits, with the money coming from the Tax Rate Stabilization Reserve.
Lefebvre said that he'd be willing to support it but wants money from the city to be conditional on two factors: the developer must complete the Scotia Tower project in full and also demolish the old St. Joseph's hospital on Paris Street.
Council will address the issue at the finance committee meeting on Oct. 16.
Scotia Tower on the corner of Cedar and Durham in downtown Sudbury. Oct. 8, 2024 (Shelley Mayer/CTV Northern Ontario)
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