Friday, June 6, 2008

Park this Investment Here....Great News

This is great news that the developer Homburg Invest (led locally by Mike Arnold) has reached an agreement to develop a new hotel in the Downtown. This will be a major boost to the Downtown and it is important to recognize the tireless efforts by Mike Arnold in originally developing the Confederation Court Mall and continuing to reinvest in Charlottetown providing jobs, investment and more choice in the marketplace. Kudos to all involved in getting this deal done and I trust the City will gets its return on its parking investment. updated Sunday June 8th Latest Rumour...maybe there still isn't a deal here as I learned last night that the City may still be "dicking around" which certainly wouldn't surprise me but let's hope it's only a rumour and this deal gets done...
Deal on parking opens door to build hotel
It appears that Dyne Holdings might break ground soon on a new hotel in the downtown core of Charlottetown.The City of Charlottetown completed agreements Thursday guaranteeing Dyne 175 parking spaces.The company told The Guardian Wednesday that it couldn’t move forward with an 85-room hotel on top of the Confederation Court Mall until the city and Charlottetown Area Development Corporation (CADC) finalized plans for new parking spaces.A spokesman with the city corporation said Thursday CADC is comfortable enough to move forward.That could mean a new parking garage or adding on to one of the existing three garages.However, the city won’t budge on those parking spaces until Dyne Holdings formally secures a foundation permit to build the hotel.The agreements the city signed on Thursday, worth an estimated $35 million, include the new hotel, renovations to the Confederation Court Mall and a new office tower on Fitzroy Street that would connect to the Queen Street Parkade. Council gave the OK to the new office building in late April.

1 comment:

Andrew said...

Dicking around is right. This council does not know its left from its right; its hands from its feet. Council spends thousands on a parking strategy prepared by an off-island firm. Why not listen to the thousands of shareholders in the city (its residents) who know where the problems exist.

For a development of this magnitude to be lost because of something as simple as parking is just a shame.