The Shannondale (née Electrohome, 152 Shanley St) | 8 fl | U/C

[panamaniac]

Just to note that the ground contamination predates the present owner, afaik.

[Owen]

I think it's due for a new owner quickly.

The shady owner of the building sees some interest in the property and gains control for pennies on the dollar and can probably sell this land for more than his tiny tax buyout. He rids himself of a headache and comes out ahead financially.

I don't think he'd want to run up any more property tax bills.

What does the owner think they'll get though?  The city tried to sell it and no interest.  I guess any bit of financial gain is worthwhile.

Maybe that 'break' makes clean-up and redevelopment feasible? Not saying it's' okay - but the reality is, this property was never going to be cleaned up and developed if that full tax bill was added to the cost as well (and if the city expropriated it as some have suggested, they would have had to foot the clean-up bill themselves - and I'm relatively confident that every single clean-up contractor quoting the job for the city would add the usual "government job" mark-up to their quotes.)

Proof of this point is that it didn't move at $800k, but ultimately proof will be if it DOES now get cleaned up and redeveloped.

[Spokes]

Hopefully it means something happens with this. There's potential here, but not as it currently stands.

[Spokes]

Owner confident he can sell contaminated Kitchener site

Plans to develop a long-neglected industrial property are in the works and will make the long-suffering neighbours of the dilapidated site "tremendously happy," says the real estate agent trying to sell the former Electrohome site.

"I can tell you right now there isn't any time being wasted. The focus is like 110 per cent on the property," said Adam Spylo, the son of the owner and the real estate agent handling the sale of the property at 152 Shanley St.

"We're very close to getting something done," said Andrew Spylo, a local real estate agent and landlord who bought the property in 1998 through a numbered company for which he is listed as the director.

Swift action on developing the site would be a major change, as the property has sat neglected for decades. Neighbours complain of bricks falling from the building, and the city has taken over sidewalk shovelling and grass cutting, adding those costs to the site's tax bill.

https://www.therecord.com/news-story/923...ener-site/

[panamaniac]

One wishes him well, of course, but is one a terrible person if one is sceptical about the future of this site?

[KingandWeber]

One wishes him well, of course, but is one a terrible person if one is sceptical about the future of this site?

You mean you don't have faith in someone who neglected their property and didn't pay their taxes for years?

[welltoldtales]

And to be clear, cost the City more than two Ezra Avenue street parties.

[BruceAshe]

This news probably doesn't surprise too many people https://kitchener.ctvnews.ca/mobile/form...sc=GD8rnse

[jeffster]

This news probably doesn't surprise too many people https://kitchener.ctvnews.ca/mobile/form...sc=GD8rnse

Nope...not at all.

My guess is that the owner purposely let it get to this point so that it'll become impossible to have it repair, thus avoiding the heritage "Save the Clock Tower" people.

[Rainrider22]

So now the city will pay to remedy the situation, then charge back to taxes, then after the owner doesnt pay, agree to a buy out by the current owner for 30 cents on the dollar again.

[BruceAshe]

This news probably doesn't surprise too many people https://kitchener.ctvnews.ca/mobile/form...sc=GD8rnse

Nope...not at all.

My guess is that the owner purposely let it get to this point so that it'll become impossible to have it repair, thus avoiding the heritage "Save the Clock Tower" people.

That's a good point. Hard to sell a contaminated site with a heritage designation. Getting rid of the heritage obstacle might make it easier. Having the city forced to demolish it due to the owner's inaction would also ensure that the owner doesn't have to even remotely consider repairing it.

Was there anything that Kitchener could have done differently to prevent this from happening? Property tax rules are provincial, right? What about allowing buildings to get to this state of disrepair? Who sets those laws?

[panamaniac]

The icing on the cake will be the City being obliged to spend beaucoup bucks to clean up the site (and surrounding properties?).

[Spokes]

Now we'll just have an empty lot with contamination issues

[ijmorlan]

Was there anything that Kitchener could have done differently to prevent this from happening? Property tax rules are provincial, right? What about allowing buildings to get to this state of disrepair? Who sets those laws?

I still want to know why expropriation wouldn’t work. I’m pretty sure back taxes have to be paid out of the proceeds of any property transfer, so presumably it would just be an administrative action involving no transfer of money (assuming the taxes exceed the property value).

[jeffster]

Was there anything that Kitchener could have done differently to prevent this from happening? Property tax rules are provincial, right? What about allowing buildings to get to this state of disrepair? Who sets those laws?

I still want to know why expropriation wouldn’t work. I’m pretty sure back taxes have to be paid out of the proceeds of any property transfer, so presumably it would just be an administrative action involving no transfer of money (assuming the taxes exceed the property value).

I am pretty sure the city doesn't want to pay for clean-up, let alone buy it from the dead-beat owner. They already know that it's a huge expense + the "Save the Clock Tower" people who will balk at anything less than full remediation of property.

This truly is a no-win situation for the city. The current owner won't fix it. The owner will get behind on property taxes again, obviously.

I am guessing in the not too distant future, major water damage it going to occur, OR, it will burn to the ground. One of the two.