New office space planned for former legion redevelopment
Construction is set to begin within the next 12 months
Future employers could call 48 Ontario St. home as Voisin Capital plans on creating additional office space for the former legion building in downtown Kitchener.
Earlier in August, Kitchener city council agreed to sell the building to the Waterloo-based developer for $1.55 million.
The city declared the legion building as surplus in December 2016 and put it up for sale in January 2017.
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Potential buyers had to meet certain criteria such as vision for the property, proposed plans for retaining heritage features and quality.
Viosin Capital was ranked highest in the competitive bid process for the sale of the building.
"Much like Voisin Capital's other projects, our vision for 48 Ontario is to transform a vacant space into a place that brings people together – that inspires people to be creative, to be a part of something bigger," said Frank Voisin, president of Voisin Capital in a release.
"We are thrilled to have been selected to breathe new life into a space that's historically been a vital part of downtown Kitchener's creative identity."
New office space
Redevelopment of 48 Ontario St. building is set to begin within the next 12 months, where they plan on creating an additional 46,000 square feet of office space.
They also plan on restoring the building's heritage elements.
"Their proposal clearly articulated a desire to not only maintain, but also enhance the heritage features of this building, modernizing it so that it will contribute to the continued vitality of downtown Kitchener as a destination for world-class employers and their talented staff," said Mayor Berry Vrbanovic in a release.
Half of the proceeds from the sale will be invested in the development of a creative hub in Kitchener. The other half will go towards future Make it Kitchener initiatives.