Friday, March 21, 2014

Samcon, Montreal Condo Developer, Proposing Massive Project on Point Rail Yards

Twitter is exploding this morning (well, at least among urban development geeks) with news that Samcon, a condo builder known for its small-scale and affordably priced condo projects, has announced plans to build 850 condos on the old CN rail yards in Point St. Charles.
The rail yards are south of Bridge St. and east of Wellington. I've just noticed that Google has written "Sebastapol" as "Sevastopol". Hm, does this have anything to do with Russia's annexation of Crimea?

No news release yet, but the company, which has found success by targeting first-time and mid-price buyers, says that 75 per cent of the offering will be "affordable" housing.
Two things, what will the reaction be in the Point, where residents are well and truly fed up with the traffic and congestion that a spate of new construction has brought to the usually quiet residential streets.
Second, the land Samcon is looking at is the same parcel that the Casino de Montréal has been eyeing for some time. Before that, it seems to me that developer Vincent Chiara had a scheme to build a shopping mall and some housing.
According to reports, Sam Scalia, Samcon's president, says the new project and future projects will be developed according to principles of walkability and will be located close to public transit.
Not sure how that squares with the railyard, which is accessible to Wellington St. and a direct bus to downtown but nowhere close to a metro station.
More to come, no doubt. 

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