Another delay for big Martin Street development
By Shannon Quesnel
Penticton council will reconsider granting construction deadlines for 450 Martin St.
(SHANNON QUESNEL / iNFOnews.ca)
April 16, 2013 - 3:12 PM
Penticton city council decided to not make a decision this week about construction deadlines at 450 Martin St. Instead it will be examined at the next council meeting.
For several years the site at 450 Martin St. sat as a paid-parking spot. P2 Development Company Inc. owns that space. There was supposed to have been a multi-storey and multi-tower development taking place but there were delays.
The site's stakeholders want more time before they have to start building. They want to extend one five-year construction deadline to eight years and a 10-year deadline to 13 years.
Several councillors were upset.
Coun. John Vassilaki said he would hate to see a hold on Martin Street development for 13 years. He knows there are concerns about the proposed height of the towers. Transport Canada has rules about heights when there is a nearby airport.
Vassilaki said the higher the structure the more space the developer can lease or sell.
Coun. Helena Konanz was disappointed the developer was not present to explain the situation. It has been three years since the project was approved and she's concerned if it will still make money for the owner.
"The staff report said if we don't accept this (request) it will not go ahead," Coun. Wesley Hopkin said. "By saying no to this request we say no to this project."
Developer director Anthony Haddad said the development agreement with the city would stand if the extension request was not granted. He also said the agreement would be killed if construction did not start by the deadline.
Acting mayor Garry Litke cautioned council about making a hasty decision.
To contact a reporter for this story, email Shannon Quesnel at email@example.com or call 250-488-3065.
News from © InfoTel News Ltd, 2013