Welcome Guest!
In order to take advantage of all the great features that Waterloo Region Connected has to offer, including participating in the lively discussions below, you're going to have to register. The good news is that it'll take less than a minute and you can get started enjoying Waterloo Region's best online community right away.
or Create an Account

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Electrohome Factory
Just to note that the ground contamination predates the present owner, afaik.

(03-01-2019, 11:22 AM)Spokes Wrote:
(03-01-2019, 10:23 AM)Chris Wrote: 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.
Hopefully it means something happens with this. There's potential here, but not as it currently stands.
Owner confident he can sell contaminated Kitchener site
Quote: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.
One wishes him well, of course, but is one a terrible person if one is sceptical about the future of this site?
(Yesterday, 10:01 AM)panamaniac Wrote: 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?
And to be clear, cost the City more than two Ezra Avenue street parties.
« Next Oldest | Next Newest »

Forum Jump:

Users browsing this thread: 1 Guest(s)

About Waterloo Region Connected

Launched in August 2014, Waterloo Region Connected is an online community that brings together all the things that make Waterloo Region great. Waterloo Region Connected provides user-driven content fueled by a lively discussion forum covering topics like urban development, transportation projects, heritage issues, businesses and other issues of interest to those in Kitchener, Waterloo, Cambridge and the four Townships - North Dumfries, Wellesley, Wilmot, and Woolwich.

              User Links