Vacant buildings in downtown Sudbury could become residential units
A lot of buildings in downtown Sudbury are for sale, or are being sold, including a couple of bank buildings, a church and an old school.
Some could be converted into multi-unit housing, something currently needed in the city.
The Scotia Tower is listed for $6.75 million and Realtors confirm there is a conditional offer on it.
"It's an eight-story officer tower,” said Cassandra Beach of Royal Lepage Northern Heritage.
“There are multiple tenants right now but there is currently 80 per cent vacant. Last week, we received three multiple offers and the seller has chosen one that is currently conditional until April 13 and we are pending a closing date in early summer."
At this point, it's not known what the potential buyer's plans are for the tower. Realtors say many of the buildings for sale in the downtown area have the potential for a multi-residential conversion.
"We are sitting at a 2.1 vacancy rate for residential in Sudbury so there is a definitely a need for the housing a need for rental apartments," Beach said.
Sudbury Realtor Paul Kusnierczyk said the zoning downtown makes converting some of the buildings to residential use relatively straightforward.
Kusnierczyk is the listing broker on the Knox Church on Larch Street. He said a deal has been firmed up for just under $500,000.
It's expected to close in June, but plans for the building are not known at this time.
Kusnierczyk said a former school on Mackenzie Street also has the potential to become residential units.
And the former diocese building on St. Anne road is listed for $4.5 million and is being actively shown. Kusnierczyk expects some action on it shortly.
"There is all kinds of incentives that are available through the city,” he said.
“Plus all of these buildings that we just discussed are in an area where there is no development charges. Development charge free zones so there is lots of available incentives."
Both Realtors said they are currently working on some additional listings involving commercial buildings in the downtown area.
They expect them to hit the market in the coming weeks and months.
CTVNews.ca Top Stories
BREAKING Police investigating shooting outside of Drake's Bridle Path mansion: source
Toronto police are investigating a shooting that took place outside of Drake’s Bridle Path mansion early Tuesday morning, a source tells CP24.
There's actually no such thing as vegetables. Here's why you should eat them anyway
The rumours are true: Vegetables aren't real — that is, in botany, anyway. While the term fruit is recognized botanically as anything that contains a seed or seeds, vegetable is actually a broad umbrella term.
'It looked so legit': Ontario man pays $7,700 for luxury villa found on Booking.com, but the listing was fake
An Ontario man says he paid more than $7,700 for a luxury villa he found on a popular travel website -- but the listing was fake.
The Met Gala was in full bloom with Zendaya, Jennifer Lopez, Mindy Kaling among the standout stars
The Met Gala and its fashionista A-listers on Monday included Jennifer Lopez, Zendaya and a parade of others in a swirl of flora and fauna looks on a green-tinged carpet lined by live foliage.
3 Indian nationals accused of murdering Hardeep Singh Nijjar facing court in B.C.
Three Indian nationals accused of murdering Sikh activist Hardeep Singh Nijjar are due to face court Tuesday over the killing that triggered a major diplomatic rift with India.
Israeli forces seize Rafah border crossing in Gaza, putting ceasefire talks on knife's edge
Israeli tanks seized control of Gaza's vital Rafah border crossing on Tuesday as Israel brushed off urgent warnings from close allies and moved into the southern city even as cease-fire negotiations with Hamas remained on a knife's edge.
Canadian cadets rock mullets and place second at U.S. military competition
Sporting mullets, Canadian Armed Forces officer cadets placed second in an annual military skills competition in the U.S.
Highlights from the 2024 Met Gala exhibit: Sleeping Beauty would wake up for these gowns
Sure, she was a royal princess and all. But there’s no way Sleeping Beauty — either before or after her nap — ever had quite the fabulous wardrobe that’s been assembled at the Metropolitan Museum of Art.
Noelia Voigt resigns as Miss USA, citing her mental health
Noelia Voigt, who was crowned Miss USA in November 2023, has announced she is resigning from her role, saying the decision is in the best interest of her mental health.