A crumbling parkade will become an affordable housing unit if an Exchange District development corporation has its way.
CentreVenture Development Corp. is accepting expressions of interest or EOIs for a joint project that would see a new affordable housing complex built where the Civic Centre parkade now stands on Princess Street.
The parkade was abruptly closed in 2012 when serious structural issues were discovered. The parkade has been slated for demolition ever since, along with the Public Safety Building.
Now called The Market Lands, CentreVenture is hoping to partner with a non-profit housing developer to build and manage the new project on the southern parcel of the land.
The group released its vision for the site earlier this year, which would include about 100 apartment units, a cultural hub, a one-storey public market building and a large public plaza.
“We’re now bringing together the partnerships and the financing required to make the Market Lands a reality,” said Angela Mathieson, CEO of CentreVenture.
“This EOI is seeking a partner who shares the vision of making this important site a welcoming and inclusive place with housing options for all incomes.”
The corporation wants to see the southern parcel of the land developed first, starting in 2020.
The EOI is open to registered non-profit corporations in Canada, with experience building and managing affordable housing projects.
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