Private developers on waterfront say hotel, condos going ahead

Private development on the waterfront is still on-track, city council heard Monday night.

Laureate Development’s Joe Bova and Resolve Group director Gisele MacDonald provided an update on hotel and condominium development on Prince Arthur’s Landing Monday, during city council’s regular scheduled meeting at city hall.

"I know that we should be in Thunder Bay more often, and be keeping you up-to-date more often." said Bova, who works out of Winnipeg.

Bova said he’s hoping a land transfer to the unnamed hotelier, which tbnewswatch.com reported was likely to be Delta Hotels in February, will go through in October and then announcements can be made.

The hotel is expected to be 150 rooms and have a four- or even five-star rating. It is expected to feature a bar, restaurant, fitness and pool area. The secrecy stems from the hotelier not wanting to make any announcements until the land transfer is complete.

"Personally I would be happy to tell you who the chain is… they will not make an announcement until they are guaranteed that they can have title of the land," he said. "I don’t blame them."

October is also expected to see the developers start selling the two, 51-unit condominiums on the waterfront.

MacDonald said she expects the minimum price tag to be about $300,000 for a condo with a 2,100-square foot penthouse going for around $600,000.

Bova told council that there have already been 87 expressions of interest for the condo.
The $160 million investment will also include renovations to the CN building and building a market building for shops. But even though the group has seen expressions of interest for those buildings already, Bova said there are other priorities before that can begin.

"Once we see our way clear with the hotel, which is our main priority," Bova said.
The group is expected to approach council again to request a 1.3 metre height extension to the hotel, which will also have valet parking and a ballroom. Bova said the extension is required to meet the hotelier’s standards.

Bova and MacDonald’s updates were part of a first report to council on a parking study for Marina Park.

That report recommends a total of 905 parking spaces, up from 523, be proposed.

City council will debate that report June 20.