Friday 26 July 2024

Cityflats - 10 Cataraqui Street


As one walks north from Doug Fluhrer Park, at the foot of the former North Street and the site of the former K&P/CP roundhouse (top photo - bottom right), and along the Urban K&P Trail at waterside, you'll pass a triangular patch of land on your left. Labelled Molly Brant Point in the Googlemaps image (top photo) and nominally designated 10 Cataraqui Street, it's rather nondescript and now chain-link fenced. It's going to be a development known as Cityflats. Boilerplate text from the firm's website says, "Cityflats specializes in delivering successful investment outcomes and strong risk-adjusted returns on multi-residential real estate investments. Our strategy is to target opportunities in secondary markets across southeastern Ontario and generate strong returns by acquiring, developing, constructing and managing high-quality real estate. We are led by an experienced management team and supported by a valued network of capital partners."

The test of this development will be community engagement and environmental remediation. Sitting on the site of former coal and oil dealerships, and the former CP spur to the Woolen Mill, site cleanup will likely be required. As a green space prized by an originally working-class Swamp Ward neighbourhood, now steadily gentrifying, this will be a challenge.
Red is landside, white is waterside.
Housing crisis? What housing crisis? The people who can afford these Inner Harbour views know no such words and can pay to play.

 

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