Former Ledo Hotel could become housing for the homeless after redevelopment plan fails
After an ambitious redevelopment plan failed, the owner of the former Ledo Hotel in downtown Sudbury is looking at other options.
In fall 2020, a group emerged proposing to rename the complex 'Le Ledo' and turn the building into a 150,000-square-foot office tower.
But the building's owner said Monday that’s no longer happening.
"All of their options for purchasing have expired, so as far as I’m concerned, that project's dead," said George Soule.
A month after the Le Ledo announcement, the building was closed due to safety issues following a small fire.
Soule said at the time, it was easier to keep the building closed than fix it. Now with the sale to developers falling through, he said it's time to take another approach.
"Back to the basics," said Soule. "Low-income, small units --there’s 27 that could be ready probably in six months with an architect … and then another 20 units within two years."
Converting the Ledo into transitional housing will cost at least $5 million, Soule said.
"The process right now is to go after CMHC (Canada Mortgage and Housing Corporation) funding because it's very difficult to fund a project like this -- extremely difficult," he said.
"CMHC funding, we’re competing with all of Canada and so any support that I can get behind this project, that’s what we’re actively doing now. I’ve hired a person … who has experience with CMHC funding. I’ve hired a cost estimator, so we’re moving along the project that way."
Soule has the support of Ward 11 Coun. Bill Leduc, who said it's a significant opportunity to address the city's homelessness problem -- right beside where other key services are offered.
"We as a city cannot solve this issue on our own," Leduc said. "We need to bring in developers, independent individuals to help solve this issue."
He said he’s hopeful a partnership can be quickly established between Soule and the city.
"I think we, as council and city staff, can move this along properly and hopefully see this come to fruition over the next year two years even," he said.
There are local funds available to redevelop such properties, Leduc said, such as façade funding and five-year tax deferrals.
The investment group behind the Junction East project said in a news release a motion to be presented at city council Tuesday night has added another layer of uncertainty to how it will proceed.
The group said it's not commercially reasonable to continue to the next stage until the proposed new downtown library and art gallery are confirmed to be moving ahead.
CTVNews.ca Top Stories
'A beautiful soul': Funeral held for baby boy killed in wrong-way crash on Highway 401
A funeral was held on Wednesday for a three-month-old boy who died after being involved in a wrong-way crash on Highway 401 in Whitby last week.
'Sophisticated' cyberattacks detected on B.C. government networks, premier says
There has been a "sophisticated" cybersecurity breach detected on B.C. government networks, Premier David Eby confirmed Wednesday evening.
Police handcuff man trying to enter Drake's Toronto mansion
Toronto police say a man was taken into custody outside Drake's Bridle Path mansion Wednesday afternoon after he tried to gain access to the residence.
Biden says he will stop sending bombs and artillery shells to Israel if they launch major invasion of Rafah
U.S. President Joe Biden said for the first time Wednesday he would halt shipments of American weapons to Israel, which he acknowledged have been used to kill civilians in Gaza, if Prime Minister Benjamin Netanyahu orders a major invasion of the city of Rafah.
Canucks claw out 5-4 comeback win over Oilers in Game 1
Dakota Joshua had a goal and two assists and the Vancouver Canucks scored three third-period goals to claw out a 5-4 comeback victory over the Edmonton Oilers in Game 1 of their second-round playoff series Wednesday.
Nijjar murder suspect says he had Canadian study permit in immigration firm's video
One of the Indian nationals accused of murdering British Columbia Sikh activist Hardeep Singh Nijjar says in a social media video that he received a Canadian study permit with the help of an Indian immigration consultancy.
Pfizer agrees to settle more than 10K lawsuits over Zantac cancer risk: Bloomberg News
Pfizer has agreed to settle more than 10,000 lawsuits about cancer risks related to the now discontinued heartburn drug Zantac, Bloomberg News reported on Wednesday, citing people familiar with the deal.
Quebec premier defends new museum on Quebecois nation after Indigenous criticism
Quebec Premier Francois Legault is defending his comments about a new history museum after he was accused by a prominent First Nations group of trying to erase their history.
U.S. presidential candidate RFK Jr. had a brain worm, has recovered, campaign says
Independent U.S. presidential candidate Robert F. Kennedy Jr. had a parasite in his brain more than a decade ago, but has fully recovered, his campaign said, after the New York Times reported about the ailment.