Friday, October 30, 2009
Champagne Ave condo site on the market
The Acquerello condo was in pre-sales several years ago but did not sell enough units to go ahead with construction. It was located at the corner of Hickory Street and Champagne Avenue, one block south of the Carling Avenue O-Train station. The proposed building was quite large and offered nice layouts with views of Dows Lake and the downtown plus easy access to rapid transit.
The lot is now back on the market. Domicile has proved there is a market for condos at this location, with his first tower at "Merion Square" built, and another two condo towers nearing construction. With the City's continued push for instensification, I expect whoever buys the site will try to increase the density or height to take advantage of the views and location. One way to increase the FSI is to cover-over the OTrain cut to increase parkland as a tradeoff for more height.
Unfortunately, the City's Bayview-Carling CDP for the area along the OTrain was aborted several years ago. By the time it gets resurrected, all the larger vacant lands along the OTrain will already have development proposals. See previous blog postings on 855 Carling Ave, the lot next door.