Nova Scotia

King's Wharf's sightline seen as condo's appeal

The million-dollar view across Halifax harbour is what developer Francis Fares says will be the main selling point for his King's Wharf development in Dartmouth.
A model of what the King's Wharf development will look like when finished. It still needs city council approval. (CBC)
The million-dollar view across Halifax harbour is what developer Francis Fares says will be the main selling point for his King's Wharf development in Dartmouth.

"I would say in the next four or five years, you should see a little community here that's thriving and everybody's enjoying the boardwalks on the waterfront," Fares, president of Fares Inc., said Friday.

The sweeping view takes in the Angus L. Macdonald Bridge, Halifax's downtown waterfront and the mouth of the harbour.

Fares's ambitious plan is just starting to take shape on the site of the former Dartmouth Marine Slips. Of five buildings planned for the site, two are being built now — one will be apartments, while the other will be condos.

"We are over 85 per cent pre-sold on the first condominium building, so we're very excited. The first two buildings are scheduled to be open the fall of next year," Fares said.

In late fall, construction is expected to begin on two 14-storey buildings.

Penthouses in the condominium building sold for about $700,000 each, Fares said, and he believes he can get an even higher price on the next ones.

Francis Fares is optimistic about sales in his new development. (CBC)
"It's proven that we have a good value proposition," he said. "So the next buildings, we would like to make a little more money, and I think the market is there for it."

It's been more than three years since Halifax regional council approved the $300-million residential and commercial project.

Fares has resolved several disputes, and he's going ahead with all the planned phases of the development.

"The will is there, and I see a big change in the atmosphere, in the mentality of whatever bureaucratic process we work with. They want to help," he said. "They genuinely want to help and make this project a success."

Fares is hoping to get city council approval next year for the final stage of his project: the 109-metre-tall King's Wharf building. Eighty people have already paid a deposit to be able to pick their units.

That building is expected to open in 2015.