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
Widow looking for answers after Quebec man dies in Texas Ironman competition
The widow of a Quebec man who died competing in an Ironman competition is looking for answers.
Tom Mulcair: Park littered with trash after 'pilot project' is perfect symbol of Trudeau governance
Former NDP leader Tom Mulcair says that what's happening now in a trash-littered federal park in Quebec is a perfect metaphor for how the Trudeau government runs things.
World seeing near breakdown of international law amid wars in Gaza and Ukraine, Amnesty says
The world is seeing a near breakdown of international law amid flagrant rule-breaking in Gaza and Ukraine, multiplying armed conflicts, the rise of authoritarianism and huge rights violations in Sudan, Ethiopia and Myanmar, Amnesty International warned Wednesday as it published its annual report.
Photographer alleges he was forced to watch Megan Thee Stallion have sex and was unfairly fired
A photographer who worked for Megan Thee Stallion said in a lawsuit filed Tuesday that he was forced to watch her have sex, was unfairly fired soon after and was abused as her employee.
Amid concerns over 'collateral damage' Trudeau, Freeland defend capital gains tax change
Facing pushback from physicians and businesspeople over the coming increase to the capital gains inclusion rate, Prime Minister Justin Trudeau and his deputy Chrystia Freeland are standing by their plan to target Canada's highest earners.
U.S. Senate passes bill forcing TikTok's parent company to sell or face ban, sends to Biden for signature
The Senate passed legislation Tuesday that would force TikTok's China-based parent company to sell the social media platform under the threat of a ban, a contentious move by U.S. lawmakers that's expected to face legal challenges.
Wildfire southwest of Peace River spurs evacuation order
People living near a wildfire burning about 15 kilometres southwest of Peace River are being told to evacuate their homes.
U.S. Senate overwhelmingly passes aid for Ukraine, Israel and Taiwan with big bipartisan vote
The U.S. Senate has passed US$95 billion in war aid to Ukraine, Israel and Taiwan, sending the legislation to President Joe Biden after months of delays and contentious debate over how involved the United States should be in foreign wars.
'My stomach dropped': Winnipeg man speaks out after being criminally harassed following single online date
A Winnipeg man said a single date gone wrong led to years of criminal harassment, false arrests, stress and depression.