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
Robert Pickton to remain in medically induced coma until later this week: police
Serial killer Robert Pickton will remain in a medically induced coma for at least the next few days following an attack in a Quebec prison Sunday, according to police spokesperson Hugues Beaulieu.
Charlie Colin, founding member of the pop-rock band Train, dies at 58
Charlie Colin, bassist and founding member of the American pop-rock band Train, best known for their early-aughts hits like 'Drops of Jupiter' and 'Meet Virginia,' has died. He was 58.
'Five feet nothing': Pickton's safety likely behind Quebec transfer, says ex-prison judge
When serial killer Robert Pickton was transferred from British Columbia's Kent Institution to a maximum security prison in Quebec about six years ago, correctional authorities gave no public explanation or confirmation at the time, citing privacy.
'I feel betrayed': Ottawa-area customers out thousands of dollars warn of bad faith contractor
A group of people from eastern Ontario and western Quebec is issuing a warning about Dennis Walker and his company Vue Windows.
Fancy pigeon outfitted in custom diaper has free rein in B.C. family home
When Chrissy Chin volunteered to take in a fancy pigeon abandoned on a park bench, she never imagined she would one day be ordering custom-made diapers for the bird – who lives in her house and has become a member of the family.
'We'll need all hands on deck': Details emerge after deadly boat crash near Kingston
Police say they have wrapped up their on-scene investigation into a deadly boat crash in eastern Ontario as details of the incident begin to emerge.
WestJet planning new fare category for travellers willing to forgo carry-on bag
WestJet Airlines plans to launch a new cheaper fare category that would be available to travellers willing to fly without a carry-on bag.
5 dead and at least 35 hurt in Iowa tornado: officials
Five people died and at least 35 were hurt as powerful tornadoes ripped through Iowa Tuesday, with one carving a path of destruction through the town of Greenfield, officials said.
Woman found dead in Lake Ontario in 2017 matches identity of missing person in Switzerland
Genetic genealogy has helped Toronto police identify a woman who was found dead in Lake Ontario in 2017.