A well-known Prince Edward Island
developer is set to buy a prime piece of Summerside real estate
from the province, CBC News has learned.
APM Group president Tim Banks
confirmed to CBC Monday night that the company is expected to
close a deal for the old Holland College building on the city's
Granville Street early next month.
Banks said the land will be
split into commercial and residential development.
He said APM submitted the
highest bid for the property when it was put out to public
tender, but said he couldn't recall what the company paid for
The 7.3-hectare plot of land,
which has been vacant for close to four years, was a topic of
conversation at Monday night's monthly council meeting.
Coun. Ron Dowling wants the
property developed as soon as possible.
"The best-case scenario,
they'll have the equipment in there in the spring and they'll
put a nice new wonderful facility in there and continue to grow
the area," said Dowling.
"It's a prime location within
the city and that's partly I guess why it's so sad to see it in
the shape that it is."
Another councillor who lives
near the property called it an eyesore.
"It's got graffiti, it's all
boarded up, if you didn't know that it was almost in the centre
of town you'd think it was almost on the outskirts of a place
that was going downhill or something," said Vance Bridges.