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IRAC rules in developer’s favour

A screengrab from the Nature Conservancy of Canada video campaign "Nature Stories" featuring P.E.I. developer Tim Banks.
Charlottetown developer Tim Banks has won the right to build his apartment project on Richmond Street.

Charlottetown developer Tim Banks has won the right to build his apartment project on Richmond Street.

The Island Regulatory and Appeals Commission (IRAC) has approved his plans for a four-storey, 23-unit apartment building.

The development was originally given the green light by Charlottetown city council last fall but residents in the adjacent Rochford Condominiums weren’t happy about Banks’ proposed building and the matter was appealed to IRAC.

Council had originally opposed Banks’ project, saying that it was too close to the Rochford Condominiums but later had a change of heart.

Banks didn’t respond to an email request for an interview on the IRAC decision but he did comment on social media on Wednesday.

“It really is a great day today . . . as we won our right at IRAC to build affordable housing at 55 Richmond Street,’’ Banks said on Twitter. “It took us 19 months to get started . . . hard to believe why people want to stop worthy projects that meet requirements.’’

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