A new condo development is in the works for downtown Windsor.
Valente Development Corporation is proposing a three-storey, 24 unit complex on Ouellette Ave. between Erie St. and Elliott St..
President Peter Valente says the $5-million development would not happen if Windsor did not implement its Community Improvement Grant program for the downtown core.
On Monday, the city's Planning Committee voted in favour of a new residential development grant as well as tax incentives under the CIP.
Valente says the building will have a traditional look and will fit in well with the community. "The units will be between 900 square feet and 1200 square feet. They'll have a balcony or a patio. It's going to represent an opportunity for people that want to be downtown to live in a new building."
Peter Valente, President Valente Development Corporation (Photo by AM800's Rob Hindi)
Valente also credits the city's CIP in helping bring the development downtown. "What they've done is they taken these costs and they said we're going to make it lower cost for you to build it here," says Valente. " So it gives you an opportunity of a little it of ahead start over other areas where we would be building and the costs would be higher so to speak. So that's what the city has done with the CIP program."
Valente says the grant from the city is worth between 7 and 8% of the $5-million project.
He hopes to have a shovel in the ground by June with a completion date set for June 2019.
The matter will now head to city council for final approval.
The proposed site has been vacant since 1986.