A property at the corner of Robie Street and Quinpool Road in Halifax is set to become an active adult living community.
Armco Capital announced on Thursday that the property where the current Willow Tree Tower sits is being sold to the Shannex group.
A spokesperson for Armco would not disclose the price but says they were approached by Shannex about the purchase in December.
“We only had the development agreement approved in November, so it was shortly after we got it approved that (Shannex) approached us,” said Armco spokesperson Adam McLean.
In October, Halifax Regional Council voted in favour of accepting $1.8 million from Armco in lieu of building 20 affordable housing units in the proposed 25-storey complex.
Council said the money will be placed into a new affordable housing fund.
Armco says the new sales agreement ensures all parameters approved by council will be adhered to, including the 25-storey building height, integrated bus shelter, setbacks to enhance the pedestrian experience, and the $1.8 million.
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