THUNDER BAY — Developer Ahsanul Habib is selling the Royal Edward Arms apartment building, the former Dawson Court long-term care home, and several other properties that he purchased in Thunder Bay in recent years.
Habib says he is retiring because he needs to take care of his health issues.
According to Royal LePage sales representative Jack Mallon, the properties also include the former Fort William Collegiate Institute, an apartment building on Victoria Ave. East, and the McKellar Place assisted living retirement complex.
Dawson Court on North Algoma Street is Habib's most recent acquisition.
He bought it from the City of Thunder Bay for $450,000 last year, renamed it the Campuses Student Residence, and immediately began renovations toward the goal of accommodating 200 students. As yet no students have stayed in the facility.
Habib purchased Fort William Collegiate on Marks Street with the aim of converting it to condominiums. "All the drawings were done. It was gutted. A substantial part of the electrical and plumbing was done...It just needs a developer to finish it off," Mallon said. The former school's gymnasium has been leased for the past four or five years.
The Royal Edward Arms, acquired from the city in 2015, came under the scrutiny of the Thunder Bay District Health Unit in 2017 after health inspectors found unsanitary conditions. Habib complied with orders to deal with the health and safety hazards in the eight-storey building.
Although listing prices have been established for most of the buildings, "we're nowhere near ready to put that price together" for McKellar Place, Mallon said, describing it as Habib's "big property."
The facility houses seniors as well as commercial clients. In January of this year it was announced that new investors and new management had been brought in for the retirement complex, and that Habib was "completely stepping back."
Mallon said the properties are being marketed both individually and as a package. "We're doing it both ways. There is interest because we've got a pretty good network in Toronto and out west. People are trying to buy properties in Thunder Bay because Thunder Bay is a good return for them."
He said that after being listed for one week, an offer has already come in for one of the properties.
A correction to this story was published Monday evening.
