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
Special rapporteur Johnston rejects call to 'step aside' after majority of MPs vote for him to resign
Prime Minister Justin Trudeau's efforts to assure Canadians that his government is adequately addressing the threat of foreign interference took a hit on Wednesday, when the majority of MPs in the House of Commons voted for special rapporteur David Johnston to 'step aside,' a call Johnston quickly rejected.

UPDATED | 'I heard a cracking noise': 16 children, 1 adult injured in platform collapse at Winnipeg's Fort Gibraltar
Seventeen people – most of whom are young students – were hospitalized after a falling from a height during a field trip at Winnipeg's Fort Gibraltar. However, many of the children are now being discharged and sent home, according to an update from the hospital.
Engaged couple shot dead days before moving out of house near Hamilton
An engaged couple was shot dead while fleeing their landlord near Hamilton just days before they were scheduled to move out of their apartment.
Federal Court of Appeal: Canada not constitutionally obligated to bring home suspected ISIS fighters
The Government of Canada has won its appeal and will not be legally forced to repatriate four Canadian men from prisons in Northeast Syria.
Canadian consumer debt hits all-time high, reaching $2.32 trillion in Q1 2023: TransUnion
Amid interest rate hikes and high inflation, more Canadians are turning to credit for relief, with consumer debt hitting a new record in the first quarter of 2023.
House moving to midnight sittings as Liberals blame Conservatives for stalling agenda
It's that time of year again where MPs will be sitting until midnight until the House rises in late June, as the federal government pushes to pass as many bills as it can before the summer legislative hiatus. On Wednesday, Government House Leader Mark Holland announced that the Commons will be working late 'every single night … from here until the finish.'
Medication shortage in Canada led to increased dosing errors in children, new study shows
A new study has found that dosing errors in children increased during the Canada-wide shortage of paediatric fever and pain medication last year.
What you may not have known about bladder cancer
Although bladder cancer is the fifth most common cancer in Canada, experts say there’s a significant lack of awareness surrounding whom it affects the most — statistically, men — and that the most common risk factor is smoking.
Canada is first to require health warnings printed on individual cigarettes
Canada will soon require health warnings to be printed directly on individual cigarettes, making it the first country to implement this kind of measure aimed at reducing tobacco usage.