After years of talking about it, the Cogswell redevelopment project in Halifax is another step closer to becoming a reality.
Nearly 200 people attended a public information session on the detailed design phase of the project Wednesday evening.
The city plans to redevelop the 45-year-old traffic interchange in downtown Halifax by dismantling it and replacing it with a new street grid, bike lanes and public space.
The project is expected to cost $60 million to $70 million, but Coun. Waye Mason says new tax revenue from the land will cover those expenses.
“Right now we have 16 acres that generate zero taxes and after we redevelop it, it will generate $3.5 million dollars taxes in today’s dollars, forever,” says Mason.
Mayor Mike Savage admits the project will be disruptive and expensive, but says the city will be mindful of businesses and people in the area.
“I believe that this will be the economic, social, environmental and cultural turning point for our city,” says Savage.
Demolition is set for October 2017.
