The City of Sault Ste. Marie is launching a new attempt at creating a major tourism site on 15 acres of waterfront property by asking CCI Development Group of Companies to submit a proposal for the brownfield site by the end of July.
The City of Sault Ste. Marie is launching a new attempt at creating a major tourism site on 15 acres of waterfront property.
It has asked CCI Development Group of Companies to submit a proposal for the brownfield site by the end of July.
CCI Development Group is a consortium of companies, one of four that responded to the city’s request for qualifications to develop the site.
It’s the only group that has been asked to move to Phase 2 of the plan and showcase its proposal and business plan for the development.
“We’re looking forward to working with the city and developing an exciting and feasible development on this important waterfront property,” said John Dill, managing partner with the Toronto-based CCI Development Group.
CCI Development Group specializes in real estate development.
It has been billed as a company that will act as the master developer within a consortium group that would include equity, development and financial partners, architectural firms, environmental consultants and tourism experts.
CCI focuses on the acquisition, remediation and sustainable redevelopment of both brownfield and greenfield properties through its affiliation with Cherokee Canada Inc.
Dill said the plan will include a mixed-use development on the waterfront site, with significant tourist components.
“I think it needs to be people-oriented, use the waterfront and be connected to other nearby attractions,” he said.
He would not identify specific ideas for the site.
But city officials say the initial submission included tourist development, a hotel and other recreational and commercial components.
CCI worked with Brookfield Financial Real Estate Group in a joint $45 million venture for an 87-acre retail development located just north of Montreal, valued at $165 million.
That development includes mostly big and medium-sized box stores on a 1.2 million-square-foot blueprint as well as a further development of a retail, lifestyle town centre that includes fashion stores, entertainment and restaurants.
This will be Sault Ste. Marie’s third attempt at creating a major tourist attraction on the property.
The provincial government has promised a $15 million grant through the Northern Ontario Heritage Fund Corp. if a plan meets specific criteria to create employment and attract tourists to the province.
Late last year, the city severed its agreement with Legacy Quest Developments after that company failed to progress in developing the site over a two-year span.
Final ideas and a comprehensive business plan are expected to be in the city’s hands by the end of July.
A committee of council will review the plans and make its recommendation to council based on the tourist concept, economic development potential, financial strength of the development, business plan and management expertise.
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