Somerset Ward Coun. Diane Holmes announced today that Greyhound bus lines has renewed its lease at its current location on Catherine Street for an undisclosed period of time, stopping dead in its tracks redevelopment of the site for now.
There had been speculation about the possibility of relocating the bus terminal once Greyhound’s lease had expired.
In speaking to city council’s planning committee, Holmes’s remarks suggested that the renewal of the lease would last for a number of years, but did not give a specific number.
However, the notice of renewal did not stop the committee from carrying a motion to rezone the land from being exclusively a transportation-only zone to one of mixed-use.
Being rezoned to a mixed-use property enables any redevelopment of the site to include either retail, residential or office buildings. With the green light given by the planning committee and pending approval at City Counil, the owner of the site now has more flexibility in what to do with the land should Greyhound not renew its lease in the future. But for some, the decision was not welcomes by all.
“If you rezone this land you are immediately increasing its value as something other than a bus station,” said David Jeanes, of Transport Action. “You are therefore giving an incentive to the owner to pursue those other uses.”
Holmes, who supported the motion, said that residents of the area do not want to see the terminal moved.
“I’m hoping the bus station will be there forever,” said Holmes. “It has great access and there are no other places really for it to move to. It blends in with the community. It lives with its neighbours.”
A redevelopment plan proposed four separate buildings along with up to two retail outlets. Two of the buildings facing Arlington Avenue would be residential, peaking at seven storeys. Two other 25-storey buildings would be largely residential and would face Catherine Street.