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Group has 45 days to prove parkade is sound

The backers of a long-stalled condominium project on a prominent corner in Sylvan Lake have been given more time to prove that a parkade built seven years ago remains safe.

The backers of a long-stalled condominium project on a prominent corner in Sylvan Lake have been given more time to prove that a parkade built seven years ago remains safe.

Council gave the ownership group a 45-day extension until Sept. 9 to provide an engineering report on the structural integrity of a 59-stall parkade built in 2003 before construction on what was then to be a hotel came to a halt.

The motion says that no further extensions will be granted and if the report is not received by the deadline the town will start court proceedings.

An extension was requested by Bearden Engineering Consulting, which has been hired to determine if the parkade is still structurally sound, said Mayor Susan Samson on Wednesday.

“Originally when we talked to the investors and developers they indicated that information and report would be available by the end of July.”

But Bearden determined they needed more time and asked for a 60-day extension.

“So we sawed it off in the middle at 45 (days),” she said.

If the report shows the parkade is sound, Samson anticipates the developers would come to the town with designs and work with the town’s planning department to come up with a concept that works and can be pre-sold.

“Barring that, if the parkade is not structurally sound then we’ll cross that bridge together and determine where do we go from here.”

Unless it could be repaired, it would have to be torn out.

Local realtor Jim Jardine has been working with a yet-unnamed development group interested in taking over the project and said the parkade is expected to be fine.

“Everybody’s optimistic there’s no problem.” But an engineer must sign off on a report so financing can be arranged and a deal signed with investors.

Jardine’s Trilliant Real Estate Group will be involved in selling spaces in a proposed four and half storey condominium with ground-floor commercial space. If all goes well a finished project will likely be years away, he said. Besides design work and planning approvals, marketing pre-sales will have to be lined up to ensure financing is available.

“I suspect we’ll have to be 50 to 60 per cent pre-sold to get financing in this market. I’ll put it this way, it’s safe to say (the project is) probably two to three years down the road.”

In the meantime, the owners have developed a beautification plan for the site, which has been a recurring irritation for council. At one point, the town ordered fencing to be replaced to better screen the unsightly concrete parkade roof, pierced with rusting rebar.

“In fact, we’ve already hauled 24 trees in there and we’re working on some structures to cover the rebar and stuff,” he said.

pcowley@www.reddeeradvocate.com