After 126 years of business and Manufacturing, GE has closed its doors in Peterborough. So, what is going to happen to this 80 acre property? (Park St and Monaghan St parking lot.)
Is GE going to do the American thing and board up the buildings and walk away?Maybe leave a skeleton crew on just to say there is current operations?
My understanding is one of the biggest reasons this plant has closed is the poor condition of the plants buildings. It is also my understanding that the property is extremely contaminated. I don’t think this is a secret by any means. So what do we do? No one will ever be able to clean up this property. It will be a contaminated mess forever. Do you let it just rot?
Or do we build the OHL and multiplex arena here? Think about this. When OMC left Peterborough they donated their contaminated property to the city and we even named the arena after one of their products. Developers Paved the site to seal the contamination and used the property for recreation. Win win right? So if nothing will ever happen to the GE property by GE why not approach GE to donate the land and a good portion of money for naming rights of a new complex for Peterborough to take over the property. Let’s try to make this loss the best win we possibly can. There is no better site in the city for a new complex and no other manufacturer is going to take over the site and poor condition buildings.
Having a boarded up 126 year old manufacturing plant will never do Peterborough any good!
That is all I have for you today.
When you are in a need for a Realtor Check me online at www.bradsinclair.ca I would like to have you business.
Written for you by:
Your local Realtor®
If you are looking to either Buy or Sell in Selwyn or Peterborough contact me immediately at 705-927-6236
Brad Sinclair, Sales Representative
Royal LePage Frank Real Estate Brokerage
Solving Problems and Making Things Happen in Real Estate since 2007