Proposed new building for city

Project would add more than 100 parking spaces and 84 units to the downtown

A P.E.I. developer is proposing to construct a six-storey apartment building in the existing Polyclinic parking lot in Charlottetown.

Tim Banks, CEO of APM, says the building would contain 84 units, feature two levels of parking and would sit directly across from The Guardian on Prince Street.

The apartment building would take up about 70 per cent of the existing footprint of the Polyclinic parking lot.

However, Banks says the project would actually add parking spots for the public looking to access the Polyclinic.

First, the apartment building would contain 222 parking spaces. Only 50 spaces are required for tenants. The remainder would be open to the public. There are currently 80 parking spaces in the Polyclinic parking lot.

“So, we’re going to have over 100 more parking spaces in the downtown for the public,’’ Banks said.

Access to the two levels of parking would be available from Prince and Hillsborough streets.

There would be exits on either end as well.

As for the units themselves, Banks said the intention is to make them cost 10 to 15 per cent lower than standard market rates in the downtown core “if the city co-operates with us … and (doesn’t) throw a bunch of silliness (at us) in terms of requirements where we just don’t get any return’’.

Drawings went to the City of Charlottetown on Dec. 23, but the project has yet to be vetted by planning and heritage. The process would also require a public meeting, which Banks speculates will happen

sometime next month.

“It’s a great infill project in downtown Charlottetown,” he said, adding the city’s official plan stresses the

importance of growing a residential downtown, providing more parking and increasing the economic wellbeing of the core.

“We do that with this project in spades.’’

Banks said APM gets calls every day from people asking about the company’s rental program.

“People are looking for units in the

downtown core because people want to work down there, and they want to live down there. Unfortunately, the city has developed a set of rules for people that prohibit being able to deliver affordable units because they want silly things, such as variances for things like green roofs that add nothing to the building and just add cost to the developer.’’

CONTRIBUTED This is an artist concept drawing showing the proposed 84-unit apartment building on Prince Street in Charlottetown. It would be located in the existing Polyclinic parking lot. The building pictured on the left is the Charlottetown Beer Garden.