HomeWaterfront wishes for Stratford

Waterfront wishes for Stratford

Jan 4 2018

Tim Banks says a $16-million apartment building development he is proposing will be good for Stratford. The proposed construction is a 79-unit, five-storey apartment building located along the waterfront in the town.

The Town of Stratford received an application from Banks’ company, Pan American Properties Inc., to rezone a 1.32-acre portion of land from waterfront public space to waterfront residential. The parcel of land is located on the Southport Motel property.

“I’ve been eyeing this property for a number of years,” said Banks. “I’m hoping I’m bringing something to the community that will be very positive.” Banks said his proposed building, called “The Shorefront”, will boast underground parking, large balconies, a common area room and a fitness centre. It will also have a sustainable design featuring solar water heating, low-flow toilets, low e-glass, higher r-value and LED lighting.

Each unit on average would be 1,125 square feet. Rent would start at $1,100 and the building would be owned and managed by Killam Properties. Banks said the building would bring around $150,000 a year in taxable income to the community.

More than 50 Stratford residents attended the public meeting Wednesday, with many of them voicing concerns over the proposal. However, three residents did take to the microphone to say they were in favour of the development.

Derek Morrison said he likes the look of the building and the fact that it is sustainable. “I’m for it,” he said.

Banks says there will be trees and shrubs on the property, but people will be buying for a view of water.

Coun. Keith MacLean, chair of the planning committee, admits to seeing flaws with the 2006 plan. “It’s a vision and we didn’t get developers to buy into that vision, that is why some of that hasn’t happened so far,” said MacLean. He said the next step for the application is to go before the planning board, which will make a recommendation, and then it will go before council.

Banks says the intention is to get shovels into the ground by May (pending council’s approval) and would be looking at occupancy for March 2019.

excerpted from the guardian

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