City council approved the nine-storey condominium proposed by the planning committee for the southwest corner of Bank and Flora streets Wednesday.
Home to European Glass and Paint, the current building, along with the neighbouring surface parking lot, will be demolished to accommodate the planned 95-unit building at 488-500 Bank St.
Council gave permission to demolish, rezone and construct in the heritage conservation zone, saying the benefits of building a condominium building will outweigh the heritage value of the current one.
The Best Chip Wagon is currently stationed on the surface parking lot.