Plans to build a six-storey, $24-million apartment building in downtown Charlottetown have been abandoned, according to the project's developer.

Says city revising affordable housing incentive program put dagger in plans

The city will purchase the land, located at 425 Granville St., for $1 from Tim Banks, demolish the existing buildings and prepare the site for construction. The city said the cost is about $2.3 million.

Charlottetown developer Tim Banks doesn't understand why council is sending a housing project near Charlottetown Mall to another public meeting following some design changes to the buildings.

The City of Charlottetown issued stop-work orders earlier this month for the Sherwood Crossing site at Towers Road and Mount Edward Road.

Despite delays created by the pandemic, some parts of the Blackbush resort at Grand Tracadie, on P.E.I.'s North Shore, are now open to the public. The resort, when completed, will include a hotel, cottages, fish market and restaurant, and a residential subdivision. Much of the infrastructure for public access to [...]

Work on a six-storey apartment building on Grafton Street in Charlottetown is expected to begin by September, the developer says.

P.E.I. developer Tim Banks is the president of Pan American properties, and best known locally as the CEO of APM. He said he's had his eye on the mall for years. 

Council voted 9-0 to proceed with the APM project. An apartment building planned for 199 Grafton St. unanimously passed its

The proposed apartment building would be located across from The Guardian newspaper building and near the Polyclinic. (APM)