Eleven years after developers promised that allocating Capital Pointe on Albert Street in Regina would deliver a $27-story multi-million-story hotel and condominium complex, assets can now be transitional parking.
Work on Capital Pointe’s doomed allocation stopped in 2017, leaving a giant gap in the ground, which the city had to fill in 2019 for security reasons.
The long term property, on the corner of Albert Street and Victoria Avenue, is back on the table at City Hall on Wednesday.
“The progression is intended to be used provisionally to facilitate long-term progression plans for the site,” says the public program at the Sunday afternoon meeting of the Regina Planning Commission.
The commission recommends that the City Council approve a rezoning of the property.
Lately it has been zoned as a direct domain of the urban area (DCD-D), in which outdoor parking is not allowed. The City Council will need to approve a request to rezone assets in a contractual domain to allow parking.
If a progression proposal is not previously approved, the batch would return to its existing zoning after one year.
Potential parking can come with 87 parking areas, plus 8 parking areas for bikes and motorcycles. According to the Regina Planning Commission, the area would be fenced and closed, with the existing alley to the north serving as a site.
Access will be allowed by turning right and turning right on Albert Street if the applicant installs a median on Albert Street.
The applicant does not appear on the agenda of the plan-making commission, however, he is known as “the prospective buyer of the assets in a court-ordered sale”.
According to the Board, the applicant would be guilty of covering all prices similar to infrastructure adjustments or additions.
The applicant indicated that it had reviewed the progression plans for more than 18 months, with a period of up to two years “to complete the steps required in the pre-progression procedure and 24 to 30 months to build on the site,” said the commission.
The applicant is quoted in the schedule stating that the use of land as a car park in the pre-development phase would ensure the maintenance of taxes during this period, “without the desire to impose on the assets an additional debt that could block or save the structure process”.
Not everyone at Regina is satisfied that the once glamorous assignment is potentially becoming a parking lot.
The Regina Center Commercial Improvement District (RDBID) provides “transitional support” for the use of the area as transit parking for “no more than a year”.
“We hope that the candidate will soon expand an assignment that recognizes and celebrates the gateway to our city center,” the organization said in a letter to the city.
Some of the responses that the people have received, included in the public agenda, have the same tone.
“We don’t want parking, especially on this big curve,” an answer said.
Before 1971, Albert Street can be used for parking, the planning commission’s recommendations must be sent to city hall for final approval.
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