Regina News | Local Breaking | CTV News Regina
Downtown business owner hopeful for good neighbours in former Capital Pointe hole
REGINA -- The land located at 1971 Albert St. could have a new owner in the coming days, and a neighbouring business owner has mixed feelings when it comes to finally seeing action in the empty lot.
“When I read the article yesterday about this, I was at first super anxious going ‘oh my god, they can’t box us in again,’” Beata Kowalski, co-owner of Fresh and Sweet, said.
A buyer has made a conditional offer for the property formally known as Capital Pointe.
The potential buyer of the lot is Royalty Developments. CTV News reached out to Royalty Developments about its plans for the location but did not receive a response. The conditional offer to purchase reveals the potential buyer wants to use the land for "surface grade parking."
"It would be wonderful to have, let’s say 500 or 1000 people next door,” Kowalski said. “They get hungry and thirsty, that would be awesome. That would really be the ideal situation."
The mayor of Regina Michael Fougere said the fact that there is interest in purchasing the property is good news for the city.
“We’re hopeful that someone has a plan to develop that site, because it’s been vacant for so long – over a decade,” Fougere said. “Hopefully we’ll have someone who has a plan to develop it.”
In the documents from Court of Queen’s Bench, the offer is worth $2 million. This property entered the real-estate market in April, as a court ordered sale, then it was listed at $8.5 million. Once the City of Regina filled the site, the price dropped to about $2 million.
Kowalski said she just wants to be considered when the potential new owner makes the decision of what to do with the land.
"We just don’t want to be put in a bad position again,” she said. “It's just about respect and consideration for the people around."
A hearing is scheduled for Dec. 12 at Court of Queen’s Bench to discuss the approval of the sale.