HSBC Bank is still coming - I'm expecting bank interior construction to start a month or so after current lockdown is over.
Delay over the years mainly due to zoning change required and appeal - during pandemic:
- 1992: Previous Canderel 29-storey mix use from 1992 only allow ground floor restaurant, retail store and personal service shops - no banks allowed!
- 1997: City expropriated land for Sheppard STUBway construction
- July 2006: City converted public laneway behind site to private laneway and lease site with private laneway to DovCapital
- July 2007: 63 parking for proposed food court with 9 stalls reduced to 10 parking then zero for current configuration (reasoning cited both times that its above subway station)
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- Sept 2019 HSBC Bank agrees to rent space
- Feb 2020 Committee Of Adjustment grant variance zoning change to allow bank on this site,... which was appealed to TLAB/OMB by the adjacent property owner to the north!
Private property owner to north appeal because corner this site has no on-site parking:
- so drivers looking for (free) parking are constantly parking illegally on private rear parking of appellant property - which is now blocked off with cinder blocks (liable - tripping hazards BTW)
- drivers, especially food delivery drivers picking up at McDonalds & Taco Bell constantly park illegally on the Public Laneway behind appellant property - call Parking Enforcement and they're gone by the time Parking Enforcement arrives
- apparently, this parking issue is negatively affecting Appellant from renting their retail space
- Also note, the private laneway behind this site are gated off - delivery trucks often off-load on Yonge St or Sheppard Ave because it's easier and faster than going through that gated private laneway
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Anyways, TLAB/OMB concur with Committee of Adjustment decision to allow rezoning for bank so HSBC will start interior construction soon.