On November 5th, 2014, the old GM factory in St. Catharines sold for $9.375 million to BayShore Groups, a transaction that included nearly $3.125 million in on-site equipment and machinery. Twenty-four months from now, the new property owners intend to commence construction on a redevelopment project worth $250 million.
In preparation for their preliminary plans, BayShore Groups will auction off equipment from the property next week, clearing the site for demolition by early 2015. The company will take all buildings and infrastructure down during this time, except for the newest GM office tower.
With the 54.66 acres that was once a thriving industrial zone, BayShore Groups means to build a fully functioning community:
- An eight to 10 storey low-rise retirement residence west of Ontario Street;
- An industrial/manufacturing plant or retirement home next to Twelve Mile Creek;
- A water treatment plant (rumours of negotiations with Niagara College for a distillery);
- Biking or hiking trails along Twelve Mile Creek;
- A trade school or technology centre behind Haig Street;
- A bridge over Twelve Mile Creek (still deliberating);
- Additional commercial and residential properties scattered across the property.
Before shovels dig into the ground, the company must first request zoning changes, meaning the re purposing of the land rests upon future inquiries and consultations. Already, the project has created 50 new jobs, proving to be a worthy project economically speaking.
About: Advertised as experts in plant design, decommissioning, demolition, asset management, equipment sales, and salvage projects, BayShore Groups operates around the world with over 10,000 sales and projects in their portfolio.
