I suspect,... this is a timing issue,.... this is actually a temporary place-holder type of development (just like 4812 Yonge at northwest corner of Yonge and Sheppard is temporary 1-storey retail space with McDonalds, TacoBell/FedEx and HSBC/7-11 until City finds Office Redevelopment for that site). Why?
- Nobody wants to live next door to a gas station,... so until, land-value become so expensive, it'll eventually convince the gas station next door to sell/land-assemble for redevelopment,...
- there's a reason why there hasn't been any major redevelopment near this Sheppard & Bathurst corner,... everybody is waiting for Sheppard West Subway extension with station at Bathurst (Province has given direction for exploratory planning work on eastern extension of Sheppard STUBway to McCowan with option for Western Extension - primarily to connect to Wilson Subway Yard),.... once that's confirm, this area would become Subway Transit Hub,... oh, and don't forget the elimination of current height restrictions with closing of Downsview Airport,... with Density and Height zooming upward,...
But all this takes time,... now is not the right time to go after a 10-storey low-rise here, when you can get significantly more later,.... it's all about timing,...
