News Release

Regional Council Awards RFP to Purchase Spring Garden Road Area Properties

(June 30, 2011) - Regional Council has approved a proposal, submitted by a partnership between W.M. Fares Group and BANC Developments Ltd., to purchase two municipally-owned properties.

The sites, known as Mary Ann and Margaretta, are located in one of Halifax’s most appealing and vibrant mixed use areas - the lively Spring Garden Road commercial corridor. With proximity to major health and academic institutional complexes, and surrounded by tremendous public open space, development of the site will play a leading role in defining the image of downtown as a liveable, enriching and sustainable place to live, work and play.

RFP No. 11-001, Proposals to Purchase Municipally Owned Property Queen and Clyde Streets closed on March 24, 2011. It attracted significant interest with submissions from eight proponents.

"This high level of interest is a strong indicator of HRM’s momentum as a regional centre and the growing demand for quality, well located residential and mixed use projects to meet demand," said Mayor Peter Kelly. “We eagerly anticipate the transformation these developments will bring to Halifax’s downtown.”

Releasing this property for development is a critical component of Regional Council’s approved funding plan for the Central Library. The sale of the sites is also a pilot for HRM’s innovative new Opportunity Sites Task Force. A part of Council’s “Capital Ideas”, the initiative’s purpose is to develop vacant publicly-owned downtown lands in order to create a more attractive, vibrant city and increased economic activity downtown.

The new Central Library, will be located at the corner of Spring Garden Road and Queen Street. Its construction will create a convergence of development activity in the area.

W.M. Fares Group and Banc Developments Ltd.s conceptual proposal is for a mixed-use development. It will include three levels of underground parking, ground level commercial with a strong urban design component to ensure an animated public realm, and eight levels containing 126 residential units. The proponent proposes that the project will achieve a LEED™ Silver sustainability rating.

For more information on the sites, visit www.halifax.ca/SisterSites. For more information on the Central Library project, visit www.halifaxcentrallibrary.ca.

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Contact:

Mayor Peter Kelly
490-4010