SOLD!
Posted Aug 26, 2010 06:52:09 AM.
This article is more than 5 years old.
The Kitchener Frame property at Homer Watson and Bleams Road in Kitchener has been sold for 15 million dollars.
The almost 50 hectare property was bought by MGD Developments.
Kitchener’s Gary Ball is part of the three man group.
MGD is working out a redevelopment plan to make it into an industrial, commercial and retail site.
Ball tells 570 News the first tenant could be moved in by this time next year.
He says they are also talking to the city about the plan.
Ball adds they should have a better sense of the direction they are going in the next few weeks.
They are looking to attract high-tech, automotive, and office tenants.
Martinrea, which owned the plant shut it down last year.
MGD is also talking with the city about the future of Budd Park, the city holds an 89 year lease on that.
