After years of failing to find a buyer for their densely zoned property on Monteith Drive, Dundee Developments is changing course and looking for town council approval to re-designate the site for townhouse-style development.
The current zoning designation only allows for dense, multi-family residential development –such as condominiums – on the property, which has been unable to attract any buyers despite being on the market since 2007.
Dundee wants to rezone the property to allow for 42 semi-detached lots, claiming market conditions are not favourable for condominiums in that location.
“We developed Montrose for our first phase and (tried to find buyers for the next phase) without any success,” said Jim Grandan, vice-president of development for Dundee.
“(We) had to explore other options.”
Council got its first look at the request at their April 8 meeting and could possibly get the ball moving by granting first reading to the rezoning bylaw.
However, council will need to host a public hearing about the proposal before granting final approval to Dundee.
This hearing would mostly likely take place on May 13, according to a report about the rezoning request compiled by town staff.
The report also states the town’s planning and development services department approves the rezoning request.