Land involved in controversial Charlottetown development up for sale
Sale price is $1.6 million
At least some of the land that was meant for a controversial condo development in Charlottetown is now up for sale.
Phillip O'Halloran has been trying to develop the properties on Chestnut and Passmore Streets since 2015. The process involved demolishing eight buildings in the area.
The property is listed at 55 Chestnut Street, with an asking price of $1,586,000. The ad lists it as a shovel-ready development with all the approvals in place for "upscale apartments in two buildings", one with 16 units and one with 27.
The original plan was to build one 57 unit condo building with commercial space on the bottom. That plan was approved in May of 2016, but not before some push back from the community.
- Charlottetown condo development not welcomed at public meeting
- Residents concerned about vacant lot on Passmore street
Then, things changed. The project was instead approved for two four-storey buildings. One a 27-unit building on Chestnut Street and the other, a 16-unit building on Passmore Street.
City hopes land sells
O'Halloran is in the process of finalizing a development agreement with the city that could be transferred to the next owner. If that owner wanted to change something they would have to go back through council.
"I don't think anyone would want to buy the property without a development agreement signed and a plan in place," said Councillor Greg Rivard, Chair of the Planning and Heritage Committee.
"It's a long process to develop any kind of property in Charlottetown, and that one specifically has been a while."
Rivard said staff are hoping that agreement will be finalized by the end of next week. After all the work that went into getting the project approved, the city hopes it sells.
"We're definitely hoping that it doesn't stay there for a long period of time," said Rivard.
O'Halloran spoke to CBC but didn't want to give details of his plan or why he is selling. He did say he is working with the city to finalize the development agreement.
O'Halloran wouldn't confirm how much of the land is for sale, or if he still plans to develop any of it himself. He simply said he is looking at all the options at this point.
"We'll see what happens." he said.
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