12-storey building approved in St. John's
City councillor optimistic about the future of the provincial capital
St. John's city council has approved a new 12-storey office building that will soar from the site of a former lumber yard on New Gower Street.
Fortis Properties proposed the tower, which will be built at the Horwood Lumber site, in April. There was little opposition to the tower at a recent public forum.
Council members at Monday evening's regular meeting at city hall said it's another sign that St. John's is prospering.
"It's a clear signal to me that an international corporation like Fortis sees that Newfoundland and Labrador – and St. John's – have a tremendous future …a bright future," said Coun. Gerry Colbert.
Council said the new building will bring $1.7 million in taxes annually to the city treasury.
"The city of St. John's is a good place to do business, is a good place invest. So, it's just the wheel moving other cogs all the way down throughout the economic stratosphere," said Colbert.
Fortis Properties, a division of Fortis Inc., proposed the tower after withdrawing a similar plan last year that involved its properties near Prescott and Water streets.