City will demolish an office building bought for ill-fated event centre (2 photos)

THUNDER BAY — An office building the City of Thunder Bay originally purchased to make room for a proposed arena and event centre will be torn down.

According to a city official, the city acquired 47 Cumberland Street North for approximately $150,000.

It was part of the property acquisition for construction of a 5,300-seat, $114 million complex near the north-side waterfront.

However, the project stalled in 2015 after applications for government funding were denied.

The two-storey brick building has been vacant for about 10 years.

The city says a business case can't be made for rehabilitating it, a chief reason being that it contains asbestos.

An on-site meeting with demolition companies interested in bidding on the project was held Tuesday.

The city is also looking for bids to demolish a house at 300 Finlayson Street on the other side of town.

It was acquired for non-payment of property taxes, and is considered irreparable.

Once the Finlayson Street building is removed, the property it sits on will be offered for sale.