*Correction: A previous article stated the building permit had been issued to Monaco for the development at Hume and Hurontario. In fact, Monaco delivered payment for the permit, but the application still has to be approved by council for the permit to be issued. CollingwoodToday apologizes for the error.
The former site of Admiral School could soon be busy with construction crews.
Site owners, Monaco, paid the $245,000 fee for a building permit application on May 16, according to a press release sent out today, and will be starting site preparation for construction.
The land, which has been vacant - spending some time as an infamous ‘hole in the ground’ - since the school was demolished in 2005, is located on the edge of Collingwood’s heritage district on the corner of Hume and Hurontario Streets. Several development proposals since then have made it to various stages of the planning process, but none have made it to construction.
Monaco Development GP Partners Ltd purchased the land in June, 2017, and started advanced sales of luxury condominiums for a six-storey development with retail space on the ground floor.
The plan is to build 126 suites plus amenities including a roof-top terrace, plus 28,000 square feet of retail space.
“We are truly excited about reaching this very important milestone,” said Remo Niceforo, president of Monaco Development GP Partners Ltd. “The commercial space is poised to attract some of the leading retailers and organizations.”
According to the press release, Monaco is aiming for occupancy of the suites in late 2021.
