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City of Trail Purchases Union Hotel and Three Adjacent PropertiesCity of Trail
TRAIL – The City of Trail has purchased the Union Hotel and three adjacent properties to the immediate south, including two vacant lots and one building on Cedar Avenue, for a total cost of $125,000. When the sale closes at the end of August 2017, the City plans to demolish the buildings and make the consolidated property ready for redevelopment.
“This strategic acquisition aligns with Council’s objective to continue the revitalization of Trail’s downtown,” said City of Trail Mayor Mike Martin. “The buildings and properties are situated along Trail’s main corridor and are highly visible to visitors and through traffic. Initial impressions of our City are crucial; our vision is to improve the City’s gateway by remediating the lots and creating an attractive opportunity for development.”
The City anticipates that there will be considerable interest in the property once the remediation is complete.
“The consolidated size and location of the lots couldn’t be any better,” continued Martin. “The City plans to have the combined property back on the market in 2018 as part of considering development proposals that ensure that highest and best use for the property.”
The City would also like to extend sincere appreciation to the family who agreed to sell the properties.
“Their understanding and recognition of the City’s future prosperity, through potential new property tax revenue and employment opportunities, should not go unnoticed,” concluded Martin. “We’ve made huge strides recently and remain dedicated to building a sustainable future and a strong economy.”
For enquiries, please contact:
City of Trail
Mayor Mike Martin