City council will be asked to free up the former “Gateway site” property in order for developers to proceed with the planned Canal District Village Development.
The Canal District Village Development Corporation wants to proceed with a feasibility study to determine the project’s affordability threshold, exploring various business models for the project and Market research to identify other potential project components as well as capital and operating costs projections.
The CDVD want a commitment from the city for the acquisition of the property seeking to start negotiations for the property with city staff.
The project that will compliment the Riversedge development on the former St. Mary’s Site (Mill Market) will include residential condos, apartments and homes with a signature park and other mixed uses such as a wellness and recreation centre and significant outdoor civic space bringing together the hub trail and courtyards. Also planned is an indoor turf soccer pitch.
The 52nd Bon Soo Winter Carnival will be held on the property this year and could become a new permanent home for such city events. The project will require significant private sector investment.
The Canal District Village Development Corporation is a stand alone company owned by a number of developers.