We could know exactly what’s happening with the former Quinte Hotel property by the end of the month.
After news last month that a BC-based company had made an offer, FairTradeWorks out of Vancouver put out a release Monday, saying it was “getting closer to acquiring the landmark property.”
In the release, FairTradeWorks Founder and President Jim Perkins says “it was an easy decision to make an offer on the Pinnacle Street property” as the company continues to grow its development operations in Ontario.
While it’s the first time the company has made an offer in Belleville, FairTradeWorks is already building a $2 million, 10-unit seniors living complex in Marmora and has already purchased four other properties on the same street, with plans to offer more rental units for people who are 65, or older, as well as retail space.
The release says the company is continuing to do its due diligence and while the deal hasn’t been made official, plans for the site could be announced by June 23rd.
The Quinte Hotel burned down in December of 2012 and a cause was never determined.