I doubt that Pinnacle would characterize their revised submission as a loss of their "right" to build 55 more storeys, which is not a definitive unit of measurement in any case. What Pinnacle are the City are discussing is the total Gross Floor Area, and the heights of individual component buildings in metres. It's all about density and shadows and wind and the like. So, the numbers that are in play are a GFA of 594,112 square metres from the original application, and 487,455 square metres in the new one. That's a development 82% as large as the original proposal.
As they don't have a right to build anything close to what they are asking for yet, they are working toward what both parties can accept. Pinnacle will naturally want to maximize the potential of the site, while the City will be looking to approve something that fits into their various guidelines and area plans.
As the two parties are still talking we can take that as an indication that they would rather reach an agreement without going to the OMB… but you can bet that if at some point Pinnacle feels that the City is trying to impose something significantly less than what they could get from the OMB, they would end talks and simply go take their chance. Predicting OMB decisions is not an exact science though, so Pinnacle would want to be convinced of a win before taking that option.
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As they don't have a right to build anything close to what they are asking for yet, they are working toward what both parties can accept. Pinnacle will naturally want to maximize the potential of the site, while the City will be looking to approve something that fits into their various guidelines and area plans.
As the two parties are still talking we can take that as an indication that they would rather reach an agreement without going to the OMB… but you can bet that if at some point Pinnacle feels that the City is trying to impose something significantly less than what they could get from the OMB, they would end talks and simply go take their chance. Predicting OMB decisions is not an exact science though, so Pinnacle would want to be convinced of a win before taking that option.
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