Cornwall Ontario – CFN spoke with Gary Sproules, developer of an actual property in the le Village part of Cornwall, across from St. Lawrence College on Montreal Road.
The building will have 78 units so as to accommodate 168 students on 3 floors, and commercial space on the ground floor.
We asked him five questions via email earlier today.
Are you shovel ready? Is the project moving forward hinging on any conditions? (I ask as we’ve seen lovely drawings of too many buildings that never were started or completed in Cornwall)
We are getting there. Architect has been selected from Gatineau and drawings have been started. There are no conditions, only the fact that we require a record of site condition submitted by ministry of environment to build which is getting done.
Approximately how much will the units cost to rent? Is there a waiting list?
The cost of rental will has yet to be determined, however, will be similar to St Lawrence college .
( +/- $6,450.00) There is no waiting list for simple fact that there is no website yet. Will have one soon.
Are the ground floor commercial units rented yet?
Commercial units yet to be rented . However have had discussions with several potential businesses in Cornwall. Once construction starts should have much more interest.
How strong do you think the student rental market is in Cornwall?
Student housing is a huge market. You would be surprised just how many students rent apartments in Cornwall and if you have a product such as ours will be, more parents will be willing to pay. As you know most of the houses around St Laurence college have students renting. There is enrolment of +/- 1350 students this semester. 42 students rent on campus and +/- 300 other students rent off campus. (numbers supplied by college). They have a waiting list for their units. Hoping that my project will increase their enrolment at college.
What do you think the City of Cornwall can do to assist investors like Durbacon develop property in our city?
I am presently paying +/- $1,700.00 property taxes. Once building is in place will be paying +/- $170,000.00 in property taxes and creating new jobs with commercial portion.
I think the city should purchase all contaminated vacant properties, remediate the land then put them on the market. Developers in Cornwall will purchase these because they will become properties ready to build.
Montreal is making a huge investment in land remediation for the East End which will kick start that area’s economy. Joliette a town north east of Montréal (attachment included) just purchased a huge piece of land in its city center that will also bring in taxes but will help housing industry (these costs should be paid by polluters). Too many properties not generating tax revenue for city .(Domtar and Brenntag ). Remediating these two large properties will attract developers from all over. They will bring ideas to the table. Then the population can decide what works best for city. Giving land to industry will create jobs and construction ( old Target warehouse land).
Was blown away when a question asked at mayoral debate ‘’what is Cornwall’s main attraction’’ and that answer was ‘’the Benson Center’’ . Never expected that a cities arena would be its main attraction.
Lots of work needed.
It’s always great to see actual development in the River City and it’s important for City Management to assist in bringing this in as it really is the only true route to alleviating the tax abuse that residents are experiencing.
Hopefully Mr. Sproules project moves forward and brings in that near $200K extra per year. Every dollar counts!
What do you think dear CFN viewers? You can post your comments below.