84-unit apartment building proposed for downtown Charlottetown

A P.E.I. developer is hoping to build a new six-storey apartment building in downtown Charlottetown.

Some of the 84 units are intended to be affordable housing, but APM CEO Tim Banks said it's difficult to determine exactly how many of the units will fall into the affordable housing category.

The plan for the proposed building off Prince Street has been submitted to the city's planning board, Banks said.

The building would go across from The Guardian newspaper building, in a parking lot near the Polyclinic.

Banks said people shouldn't worry about losing parking space the building plan includes three levels of parking, including one underground. He said it will increase the number of parking spaces downtown by at least 60.

"At the end of the day, we end up with about 222 parking spaces, so it's going to be a public parking space as it is now. Anybody can come. There's a gate there now and people are charged for parking in there. The new facility will be indoor and heated."

The proposal has not yet been brought to Charlottetowncouncil for a vote.

Banks said he hopes to break ground on the project by Aug. 1 with people ready to move in by January2023.

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