Park Street: Fares and Luxury Condos

park street: But Fares saw huge possibilities if he could get the outdated zoning regulations changed, according to The Chronicle Herald. He soon tabled the bold idea for the Trillium 22 stories of luxury condos and retail space that would change the streetscape along South Park Street forever. Limited by zoning to a maximum of 50 ft. in height, the land didn't hold a lot of appeal, even though it edged one of the busiest pedestrian areas in Halifax. After three years of negotiations, city officials finally approved the plan and Fares broke ground in the summer of 2008. Fares' bank quickly developed cold feet. Then in July the U.S. investment bank Bear Stearns announced that two of its hedge funds had imploded, the first indication that the bottom was dropping out of the U.S. economy and the subprime mortgage bubble was bursting. (www.immigrantscanada.com). As reported in the news.