Things are continuing to look up for the developers of a proposed six-storey condominium for downtown Owen Sound.
Developer Ron Pirie said just over two-thirds of “The Sydenham” units are now reserved for sale and the project is on track for construction to begin later this year.
“We’re working furiously to get this thing built and so I’m 100% confident it’s going ahead,” he said in an interview Friday.
The luxury condo is to be constructed on property next to the Sydenham River on 9th St. E.
Pirie’s numbered company has conditionally purchased the former Todd’s Sporting Goods building from the City of Owen Sound. The sale is expected to close in mid-September.
One of the conditions of sale, which is for city council to approve a zoning bylaw amendment for the property, was cleared in June. Council also had to approve a site plan to permit the condominium, which it did on June 24, subject to conditions.
Pirie already owns two properties just north of the old Todd’s site.
Once the sale of the city property closes, the developer will merge the three sites into one, according to plans submitted to city hall.
Pirie said he intends to retain as much of the 102-year-old former Todd’s building as possible.
“The first phase will be to build the building itself, which will involve remodeling and expanding the existing Todd’s Sporting Goods building and adding on the additional extension in behind,” he said.
“There will be some demolition initially, not of the total building by any means, but some interior demolition, and construction of the building.”
Only the west wall of the former Thomson Furniture building to the north will be retained.
Pirie said 22 of the planned units have been reserved with a deposit so far.
“We’ve only been marketing two months,” he said. “Over two-thirds of the units have reservations.”
The luxury condo is to feature top-floor penthouse suites, a ground-floor covered garage, some commercial units on the ground floor, green roofs and patios overlooking the river.
Pirie has estimated the cost of his redevelopment plan at about $10 million.