A familiar face in Windsor's business community could soon be the new owner of the historic Our Lady of the Rosary Church. 

Larry Horowitz, the chair of the Downtown Windsor Business Improvement Association and owner of several downtown properties, told CBC News he has made an offer to buy the 105-year-old building.

Horowitz said he's currently at a critical stage of negotiations with the Diocese of London. 

"We're very excited because there's an opportunity here, if everything falls into place, to create a really important project for the community that would create numerous jobs and bring back to life an historic building that has been sitting idle for many years," he said.

Horowitz would only say that the church could be turned into a residential and commercial facility. 

He added that an official announcement could be made within the next couple of weeks. 

The church, located on Riverside Drive East at Drouillard Road, is a heritage designated building. 

Five years ago, the diocese offered the building for sale for $1. The City of Windsor considered the purchase, but it never happened.

"Ownership of Our Lady of the Rosary Church would require a significant amount of capital investment," a report to council read at the time.

Staff estimated repairs would cost at least $3.6 million, calling it a "considerable" amount.

In May, someone threw a Molotov cocktail into the basement of the church and it ignited.