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Tuesday, March 4, 2014

Jellybeans In Jeopardy

Common council is still trying to find an investor to take on the so-called Jellybean buildings on Wellington Row. The buildings, which predate the Great Fire, are in sad shape--and the city's willing to give them away at a bargain-basement price to whoever can muster the cash for the substantial renos. 

The City bought the buildings around 5 years ago when it bought the land for Peel Plaza. Common councillor Donna Reardon says all that time they've been left vacant and unheated has taken a serious toll.

Common Councillor Gerry Lowe pointed out the last thing we want is someone buying the building who doesn't actually have the money to follow through. He suggested council get a bank letter from any would-be investor to ensure it doesn't turn into yet another dilapidated building situation.