Kenora, ON – The City of Kenora has reached an agreement with Plaza Retail REIT to purchase just over 2.2 acres of vacant lands on the former Kenora Shoppers Mall property.
This is a strategic piece of property located in the heart of the City that is important to acquire for future use. It is a strategic opportunity to guide the City’s short and long term goals, to build upon the foundations of the Harbourtown Centre, and to support the potential future development within our downtown. In the short term, the City intends to make parking available on this property and plans are underway for the spring to have the property configured for short term and long term parking.
“It is the role of Council to strategically plan for the City to include the priorities and projects that will place Kenora in a stronger position in the future. Council feels this strategic property purchase will place us in a positive position for future planning in the downtown area” states Mayor Dave Canfield.
Plaza’s Chief Operating Officer, Jamie Petrie, added “Plaza is pleased to have concluded this transaction with the City of Kenora. The lands, made up largely of the former Zellers store which was demolished earlier this year, were considered surplus to our shopping centre and this sale provides us with additional capital to continue to invest in the redevelopment of this asset.”
The property purchase is $481,771.88 plus HST and will come from the Future Land Development Reserve Fund.
Heather Kasprick, City Clerk/Communications Lead