Big plans are in the works for a vacant downtown North Bay landmark, which has a long and sordid history.
Construction crews are busy peeling back layers of The Sands Inn on McIntyre Street, to determine if the building is structurally sound for major construction work. The project manager says 'so far, so good.'
"Right now we're looking at redeveloping it as condos. You could say higher end, everything would be brand new except the bones of the building essentially. We're actually considering adding a story, making it a three-storey building," said Paul Lamarche, project manager, and business partner.
"When we acquired it, it was already vacant. So I believe this is year four that it has been vacant. We've had a number of ideas of what to do with it, and we've had a number of organizations in the city come forward showing an interest in partnering with us. We want to make sure we get this right the first time. So we've come to the realization this is the way we want to go, so pending nothing catastrophic happening, that's the end game."
Depending on the outcome of a feasibility study, and with input from engineers and City Hall, the plan is to build 30, one and two bedroom units to be sold at market value. Based on the current market analysis, Lamarche estimates the units will sell in the $150,000 to $250,000 range, depending on size.
"Building new, costs a lot of money. The building itself is very, very solid. It is mostly built out of cement and cement blocks, and is sitting basically on solid bedrock, hence its elevation off the street," explained Lamarache.
It is located in the heart of the downtown, close to amenities which include a gym, library, shops, restaurants, and entertainment.
"We share the cities vision of revitalizing the downtown, as a place to work and play. So anybody who would be interested in buying a condo can do so. By default a big part of our target market will end up being some empty-nesters, or some people who are looking to downsize, perhaps people who spend part of their winter in the sunny south and they want to keep an affordable place in town. Or vice versa, they have a cottage where they spend most of their summers and they want to keep a place in town."
The partners are still evaluating the project, deciding what makes the most sense moving forward. A final decision is expected to be made within the next few months. Lamarche says it is too early to speculate what the final numbers will be, but says it is safe to say it will be a multi-million dollar project.
"Ideally if everything is a go, we'd be looking at a fall start up. The earliest I can see them being ready for occupancy would be a year, probably 14 to 16 months. So realistically, we're probably looking at spring 2019 in my opinion, but again these are just loose numbers."
Shark Mobile Automotive Electronics is located across the street from the Sands. Co-owner Dylan Allison has witnessed the properties steady decline over the years.
"It is good to finally get something going on over there, It has been an eyesore for a long time. Anything to raise the neighbourhood up a notch is a good thing," said Allison.
"Once upon a time it was the place to be in North Bay. It has declined over the years so hopefully, now the guys are going to bring it back up to its former glory. Anything that is improving the neighbourhood is good for us, good for the city, good for everybody who lives here. Investment in North Bay is needed."
