Hey there, time traveller!
This article was published 7/7/2008 (2970 days ago), so information in it may no longer be current.
Coincidence or no? News unfolds in a way that makes you wonder if someone is up there pulling the levers for maximum dramatic input. As evidence, I humbly submit a story
from today's Free Press about the most recent condo development for Waterfront Drive.The developer, Green Seed Development Corp
., has acquired an oddly shaped parcel of land from Centre Venture which is just north of existing condos opened last year. GSD hopes to erect cube-styled condos that will range in price from $170,000 to $300,000. The development is supposed to appeal more to childless couples and young professionals who could not muster the capital to move into the other Waterfront Drive condos, which are much more expensive. The developer is collecting deposits on the units and if enough people plunk down their cash, construction will begin this fall.What is fascinating about this development is that it didn't wait to see if a football stadium was built further north in Point Douglas, and it precedes efforts to offer Tax Increment Financing (TIF) grants to spur development. The developer has what he believes is a good idea, and he's going for it. In this regard, it is a truly organic free market entity.Is this an important development in the debate over the football stadium for Point Douglas? Both sides of the equation will find ammunition here.First, neither the developer nor the first gaggle of investors seemed rattled by the prospect of a 30,000-seat stadium in their neighborhood. GSD reported, in fact, that the first group of people to lay down their cash seemed to be very positive about the prospect of a nearby stadium.Those opposed to the stadium will correctly claim GSD is evidence that you don't need mega projects to spur development of the area. This is a case where the developer is neither daunted by, or motivated by, the prospect of the Asper development. So, if the Asper vision for Point Douglas is turned back, then there is a good possibility other developers will step in to do their own thing.We may get a chance this fall to determine what Green Seed means in the grander scheme of things. If uptake on the GSD proposal is slow, the project may not proceed. If that happnes, then people can try to blame it on the mega projects proposed for Point Douglas. (Of course, all that may be dust in the wind in a few weeks.) If the project, and Asper's plans for PD go ahead together, it would be very solid evidence the stadium will not preclude mixed-use development for the area.The debate continues.-30-