KITCHENER -- A landmark building in downtown Kitchener is now on the real estate market.
Kitchener-Waterloo Oktoberfest says it's looking to cash in on the asset as uncertainty grows about the upcoming Bavarian festival.
The castle-style building at Benton and Charles is listed for just over $1.8 million, but the organization says it's not ruling out staying there as a tenant if an investor were to buy the property.
"It is a difficult decision because it's home for most people since '89, that's a long time," says Executive Director Alfred Lowrick.
He says the property hit the market on Thursday, but the plan has been in motion for some time.
Lowrick says it's not affordable for the organization to hang onto the building for any longer.
The storefront is a place to buy tickets or merchandise for the festivities.
"Four weeks is what we use it for, and the rest of the time it stays empty," Lowrick says.
As the organization pushes to revitalize itself, a consultant was brought in last year to help.
Now, with COVID-19 shutting down major events in Kitchener for months, the uncertainty is growing.
The organization says it will make a final decision on festival plans by July, and are keeping an eye on what festival organizers in Germany are doing there.
"The Oktoberfest in Munich will be unlikely to take place this year," Lowrick says. "We are looking at that, we are looking at other events like the stampede."
It's a tough decision for the festival and the city—Oktoberfest brings in millions for the region's economy every year.
It's not yet clear what will come of the upcoming Oktoberfest, but the organization says it is looking into virtual options like bands playing remotely online as an alternative if needed.
