The City of Kitchener held a brainstorming meeting Saturday to come up with innovative ideas for the redevelopment of the former Electrohome plant on Duke and Shanley streets.
The city originally tried to sell the property in October of 2017 for a $1.1 million tax sale.
With no takers at that price, the city is writing off the accumulated interest and lowering its minimum acceptable price to just the amount of the back taxes – approximately $422,000.
Tina Malone-Wright with the City of Kitchener’s Planning Division says while they’ve faced a few challenges so far they are optimistic things will turn around.
"We are just trying to get this site cleaned up and just become less of an eyesore in the community," she said.
The property has been vacant for 25 years and some contamination on land below the factory has made it unappealing to many potential buyers.
The city says the contamination is extensive enough that residential development of the site may not be feasible and that retail and commercial uses are more likely.
"It's a win win for everybody if we can get the site cleaned up and redeveloped into something that the neighborhood will support," Malone-Wright said.
The proposal will be heading to council in the fall and the city is looking to try and sell the property again shortly after.
