There was a plan for a lowrise with a public courtyard, he said, a midrise building with a street wall and a tall tower. Because the land would be owned by the city any potential development would be opened up for a request for proposal. At that time city tax records placed the value of the empty lot and the vacant house at least $4 million, DiManno said. City staff have since been instructed to draft “a policy or standardized approach” for acquiring real estate for affordable housing, expected to come back to committee in the fall. “We have been given direction to come back and report on a policy for expropriation,” to expand affordable housing, he said.

Source: thestar July 02, 2019 22:07 UTC