A Toronto developer has purchased Thunder Bay's County Fair Mall — and that could be good news for the public library.

Goldmanco Inc. has bought the property for almost $3 million and, with a new owner in place, there are new opportunities for the Thunder Bay Public Library, which has a branch in the mall.

“I think there's going to be some new development and, in terms of the library, it may mean some future re-developement of a new space for us,” said Tina Tucker, director of community development for the library.

Officials with the Thunder Bay Public Library branch at the County Fair mall are looking to increase the library's presence. (Jeff Walters/CBC)

"It's very exciting because, if you've been up to County Park of late … the Wal-Mart opening has certainly brought more traffic into the mall.”

The branch is tucked away near the back of the building, out many people’s view.

“Many people … don't even know that there's a branch library at that mall,” Tucker continued.

“So we're looking at options that would bring us out from behind the mall into more of where the people are."

City officials have asked the developer to consider two scenarios — an expansion of their space inside the mall, or a new building outside the mall on the property.

The vice-president of acquisition and development for Goldmanco said the company plans on keeping the library as part of the mall.

"We absolutely want to maintain a library there,” Derek Hull said.

“I have met with the library and they're now actually waiting for me to get back to them ... but it's in process and we would absolutely want to keep the library as part of the mall."

Hull added the company wants to revitalize County Fair, and said it's close to finalizing two leases with anchor tenants.

The company also plans to demolish the old lumber yard on the property and develop new buildings there.