City To Seek New Ideas For York/Germain Site Development
Still working on finding the right combo of a hotel/commerical project for the downtown York Hotel and Germain Park sites.
The old hotel was torn down in November of 2010 and the city packaged the properties together.
Devco Developments informed the city in May that it was withdrawing after its hotel partner backed out.
Economic Development Officer for the city, Brian Glavin, says whatever winds up on the site has to make financial sense for the developer.
"To just put up a commercial building that you would rent out to tennants, the rates downtown are lower than what you would get in a new build. So, the prices you would have to charge to build something new would be higher than what existing buildings are already charging."
Glavin says the city planning department is updating its downtown enhancement plan to better highlight the amenities close to the site.
Council's expected to approve the motion to seek new ideas from developers at the meeting next Monday.
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