le Vendredi 9 Décembre 2022
le Mercredi 26 août 2020 21:02 Autres - Others

Christ-Roi project falls through: developer still wants it

The deal between the Town of Hawkesbury and a developer for the Christ-Roi property has fallen through, but the developer still wants to buy the land for a proposed seniors retirement condo project. The developer will meet with town council during its September 14 meeting to argue for another chance at purchasing the property — archives
The deal between the Town of Hawkesbury and a developer for the Christ-Roi property has fallen through, but the developer still wants to buy the land for a proposed seniors retirement condo project. The developer will meet with town council during its September 14 meeting to argue for another chance at purchasing the property
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A proposed deal between the Town of Hawkesbury and a Quebec development company for the Christ-Roi property has fallen through but the company still wants to make a deal with the municipality for the land.

“I want to have a meeting with the city,” said Robert Sevigny, during an August 24 phone interview. “I want to know what they’re going to do.

Sevigny is director for 94149812 Québec Inc., the numbered company that wants to buy the site of the former École Christ-Roi from the municipality. The company proposes to develop the waterfront property into a high-end seniors retirement condo.

Deal collapse

The company had a deal set up to buy the property from the municipality. But the original financing plan with the bank fell through. The developer also failed to meet one of the municipality’s conditions for the sale by a July 14 deadline and was refused an extension.

Sevigny blamed the COVID-19 pandemic situation for hampering the company with meeting some of the conditions of the sale agreement with the municipality. He confirmed that the bank turned down the company’s financing proposal but he also said that other sources of financing could be possible if the company had the time to work out the details.

Legal review

Both the town and the company have now called in legal counsel to review the situation. Mayor Paula Assaly has promised that the terms of the deal will be made public once the municipality’s legal review of the situation is done and the results approved by council.

The company can try again to buy the property. That will mean a new purchase agreement with the municipality.

Hawkesbury Chief Administrator Daniel Gatien confirmed in an email that Sevigny is scheduled to meet with council as part of its September 14 meeting agenda. Sevigny hopes to convince council to reconsider cancelling the original sale agreement with his company.

“If I sit down with them,” he said, “I can explain things.”