A proposed four-storey condominium project for the corner of Prince and Grafton streets has fallen through.
The City of Charlottetown has just issued a permit to fill in the excavated property.
“Unfortunately, it looks like that project is not going ahead,’’ said Coun. Rob Lantz, chair of planning.
“Even with bonuses provided for underground parking, some developers just cannot make the numbers work without increased density and we’ve seen a few great projects either drastically changed or abandoned all together.’’
Lantz also noted that condominium projects don’t seem to be as feasible, opting for rentals instead.
The Guardian wasn’t able to reach the developer for comment Wednesday.
The property used to be home to a gas station. Two environmental assessments were carried out on the land.
