5 Reasons the Capitol Condo Approval is Good News for our Downtown
After more than a year of community discussion, debate and several design revisions, the proposed Capitol condominium development was approved by City Council at our September 20th meeting. Here are 5 reasons why this is good news for our downtown.
- The future residents of the Capitol will shop downtown. Estimates suggest spending by the future residents of the condo will support over 100 full time jobs in the downtown core. This will help limit the number of empty store fronts on Princess Street.
- The Capitol adds to the diversity of housing options for residents, both current and future. Condo living is an attractive housing option that appeals to both young professionals and older residents looking to downsize with the opportunity to live, work and play downtown.
- The Capitol development will serve as a catalyst for more redevelopment along Queen Street, contributing to a stronger and more vibrant downtown.
- With more residential intensification in the downtown, there will be less pressure to expand existing suburban areas, which are more car dependent. With everything in walking distance, we will see fewer cars on the road and reduced greenhouse gas emissions overall.
- The Capitol will bring with it a number of community benefits, including more public parking, affordable housing units and a community studio space to strengthen our local cultural scene.