INNISFAIL - In a move that gives greater clout to protect the unique character of the downtown historical block, the Town of Innisfail is purchasing two lots on the southwest corner of Bankers Corner that were left vacant from devastating fires.
On Sept. 9, Innisfail town council unanimously supported an administration recommendation to approve a purchase agreement to acquire the now vacant properties at 5003 and 5007 - 50th Street for a total cost of $200,000, monies drawn from the town’s Land Acquisition Reserve.
Meghan Jenkins, community services director for the Town of Innisfail, told council that the cost was $100,000 each for the two properties, and that the deal with a Calgary investor will “likely” close in November.
“We have a 30-day period to review documents and go through our due diligence, and then from there we'll determine a closing date. That is kind of standard commercial real estate process,” Jenkins told the Albertan.
Most importantly, the town will now have greater control over what is built on these properties, a fact that will please many in the town concerned with ongoing losses of heritage buildings in the community, especially in the downtown historical block.
“Essentially we will be the property owner, so we can decide either what can be constructed if the town was going to do it themselves, or in control of who we may partner with or sell the property to as to what would be constructed there in the long-term,” said Jenkins.
For the immediate future, however, the plan is to have the two properties become an outdoor public plaza or gathering place, much like it was before a fire on Aug. 2, 2023 that extensively damaged the 115-year-old Globe Coliseum building and forced its demolition three months later.
The loss of the Globe building, coupled with the destruction of the historic Berscht building by fire in 2009, has left a gaping hole at the southwest side of Bankers Corner.
“I know the business community downtown would certainly like to see more people in the downtown core, and things to draw people,” mayor Jean Barclay told the Albertan. “I'm very excited about it, and what this looks like going forward.”
Coun. Jason Heistad told council he would like to see, at least in the interim, the two properties also utilized during the wintertime.
“I'm looking at all seasons until we develop that lot itself. There's a huge opportunity to transition, whatever the ideas are,” said Heistad.
Jenkins told council there will be an exploration of longer-term redevelopment and partnership opportunities for the two properties, adding there has already been some “visioning exercises” as to what the site could be in the future.
She told council administration plans to put together a proposal for council members to look at in November.
“We have been working as part of the Municipal Development Plan around the downtown and what it could be, more on the interim and before a building is constructed,” Jenkins told the Albertan. “We'll be looking for opportunities, whether that's businesses or service providers in the community if they need space, or is it a cultural facility?
“We just knew that we didn't want to risk it (properties) being sold and not having that opportunity or that control over what the development could be because it's a really important piece of property in the downtown.”
