Properties will be developed as mixeduse commercialresidential
Town of Sidney has reached an agreement in principle to sell its Fire Hall properties for $9-Million.
The deal, with developers Fraser McColl and Dan Robbins, is for the purchase of a property in the 98-hundred block of Third Street, another in the 24-hundred block Sidney Avenue, and the adjoining parking lot in the 98-hundred block Third Street.
The developers were chosen through a tendering process, and plan to redeveloping the land under the current Official Community Planand Zoning as mixed-use commercial/residential.
The properties have the potential to allow up to 6 storeys with at least 30 parking stalls maintained for public use.
While the deal is for $9-million, there's a potential to increase that amount if Council approves additional square footage permitted under current zoning.