(11-14-2015, 08:57 AM)MidTowner Wrote: I have to say that both their old and new locations seem like they have many other better uses.
Too bad then that you didn't make a higher offer on those properties than the current (Waterloo) and new (Kitchener) owners. Had you done so you'd now have an opportunity to develop the properties in the manner you deem best
The Record article points out that the Ottawa location "has been vacant since 2013. Patrick George, a well-known home builder in Kitchener whose family owns G&A Masonry in Breslau and Deer Ridge Heights Inc., bought the 1.3 hectare property in 2012. It is a high-profile location on an arterial roadway that is zoned as a mixed-use corridor by the City of Kitchener in its latest official plan. It is a short walk to the light rail train station..." Presumably potential buyers knew that and yet couldn't justify a high enough offer to outbid Wright.
The article goes on to say, "George had planned a high-density development with retail on the main floor and residential units above. But he became busy with other projects, and did not want to redevelop the property before the light rail trains start operating." Are you suggesting that the city have barred George from selling the property to potential buyers whose redevelopment plans didn't meet their standards?
FWIW my own observation, walking along the route and reading posts on WRC, is that there's an awful lot of new residential (condo), commercial and retail development going on in anticipation of the start of LRT service. I've been concerned that it may be difficult to find enough new occupants to fill these projects without depressing property prices and rents, i.e. that a RE bubble may be forming along the route. I'm just a casual observer. I imagine George is far more experienced and was far better informed about these sorts of issues than I am when he "did not want to redevelop the property before the light rail trains start operating."
Incidentally used car dealers are normally viewed as small, financially precarious, ethically-challenged, fly-by-night operators. This article suggests that Wright is anything but that stereotype, considering that they will soon have locations in all three of the region's cities and that their new Kitchener location is so large as to have 20 service bays and an in-house café . Moreover they must be doing so well that they could afford to outbid others on a large, prime Ottawa St location. Although I have no personal experience with them, my inference is that they're doing exceptionally well and are making substantial contributions to the economic health of the community. They deserve our kudos.