Most of Dartmouth Shopping Centre to make way for residential development
Demolition has begun on a large portion of the Dartmouth Shopping Centre on Wyse Road.
Cresco has partnered with J2k Properties on the project, which will see the Dollarama, No Frills and Shopper’s Drug Mart stores temporarily stay intact, and the strip mall portion of the property torn down in preparation for redevelopment.
“It’ll be lots of housing and some retail space, and it’s an exciting project that will change that corner,” said Andrew Inch of Cresco. “We waited for tenants’ leases to end before we began work.”
Jim Kanellakos, co-owner of J2k Properties, said his company is the construction arm of the project, but that J2k and Cresco will own it jointly, 50/50, when it’s completed.
“The whole site is a phased construction project that in the end will have four 40 storey towers and a mid-rise of ten storeys. “To my knowledge, I think the tallest building (in Halifax now) is 33 storeys,” he said. “The No Frills and the Shoppers both have long-term leases and we’re going to keep them open in the short term, until we have their new home constructed. They’ll be at the base of one of the new apartment buildings.”
Kanellakos said the development is scheduled to take ten years to complete, and that the budget is “probably” a billion dollars.
He admits that is a daunting number. …[Continue Reading]