Metropolis 3, Boosts Downtown Project to $18 Million
By 250 News
Tuesday, November 08, 2005 12:03 PM

He calls it Metropolis "3" and he plans to build it on the parking lot that stretches from Quebec Street to Dominion along Second Avenue. Yes, it is the stretch that runs along the back of the Columbus Hotel. The "he" in this story is Yves Ghiai, of Ghiai Development Corporation.
His vision has student oriented apartments (65 of them) on the second floor above 30,000 square feet of retail space. Parking for the units will be provided by the City through the use of the parkade.
The project marries the wish of Council to have more living quarters in the downtown along with new retail. Metropolis three follows the recent announcment of a high end condo/ retail unit set for the parking lot at 5th and Quebec.
Ghiai says the latest development will call for the closure of Quebec so it can become a pedestrian walkway, special sculptures that will actually be air purifiers and a small amphi-theater for concerts or plays. He envisions the roof being covered in photo light cells to add power for the structure, and notes it will be designed to tap into the city's downtown heating project.
Ghiai says the entire project ( Metropolis 1, 2 and now 3) will top $18 million dollars, and that construction could start on the first two stages next summer, with the third stage completed in 2007.

Right now, the site for Metropolis "3" is a parking lot. But if all the financing is approved, it will become a multi level building that will be home to student housing and a ground floor retail complex.
Ghiai says pending financing approal, the deal should be sealed in December.
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