Attracting investors
Group suggests creating condos, affordable apartments and retail space on Montague’s south side
“We’ve spoken with all the building owners and land owners so we have their support in this. Imagine if Stewart and Beck — the building wasn’t there anymore. That plus the existing open space, there’s a lot of land there which we feel could be developed to provide a village atmosphere, very much tourist-friendly but with kind of the ongoing or regular monetary value of apartments, condos and the like.” Les Warrington, Montague Economic Development Corporation
An economic development group is hoping to find investors willing to breathe some new life into Montague’s south side.
The Montague Economic Development Corporation (MEDC) has suggested a development that would see a mix of condos, affordable apartments and retail space created along Main Street, including at the now empty Clark’s building.
MEDC chairman Les Warrington spoke of the initiative while providing an update to Montague council during this month’s regular meeting.
The group is looking to facilitate development in the southern area, which includes Stewart and Beck Home Hardware, some open space and several smaller buildings leading up to the existing Clark’s building.
“We’ve spoken with all the building owners and land owners so we have their support in this,” said Warrington. “Imagine if Stewart and Beck — the building wasn’t there anymore. That plus the existing open space, there’s a lot of land there which we feel could be developed to provide a village atmosphere, very much touristfriendly but with kind of the ongoing or regular monetary value of apartments, condos and the like.”
The MEDC board was appointed a little over a year ago, and Warrington’s address to council was the first public update from the group.
Warrington said the board has been “deliberately keeping our head below the parapet” while carefully weighing any proposals for strengths, weaknesses, opportunities and threats.
“(We’re) looking not only at the economic benefits of any proposals but also the effects on the community and wellness of the community,” he said.
This isn’t the first time a group has looked at developing the empty Clark’s building.
Last year, council voted to purchase the building for $250,000 and invest another $1 million in upgrades. However, the motion later died prior to its final reading.
Warrington noted the corporation is not looking for any investment from the town on the proposed development and is instead hoping to attract private investment.
He said the group had already approached an architectural firm in Charlottetown and that concept drawings would soon be available.
“We’ll talk with building owners again about that and then our plan would be to then engage with an open town meeting so people in the town are aware of what’s going on.”