THUNDER BAY -- The city has approved the sale of the Royal Edward Arms building.
Council at Monday night’s meeting approved the sale to Habib Architects for $500,000.
The May Street building was put up for sale in November 2014 after the Thunder Bay District Housing Corporation decided not to renew its lease on the building.
A media release issued by the city states the company intends to renovate the eight storey and 64 unit building for a mix of commercial and residential purposes.
Coun. Larry Hebert, who serves on the city’s Heritage Advisory Committee, said the sale has the potential to help revitalize the building.
“It’s one of the great buildings of the downtown south core and with some of (Habib’s) plans it looks like it could be a hotel concept. We don’t have a hotel really in the south side downtown area,” Hebert said.
“That would be really good for people going to the courthouse, such as out of town judges, lawyers and prosecutors.”
The $500,000 was said to be the highest purchase price submitted during the expression of interest process.
The Royal Edward Arms was built in 1928 and had been owned by the city since 1981. The building had sserved as non-profit housing from 1985 until the sale.