Sault Ste. Marie city council voted Monday to direct city staff to enter into discussions regarding the sale of waterfront property to Toronto-based developer Paolo Rovazzi.
Rovazzi, represented by Sault lawyer Bob Paciocco, and accompanied by Sault architect Franco Pastore, attended Monday's council meeting.
Rovazzi has expressed his interest in purchasing, from the city of Sault Ste. Marie, the land west of Station Mall and east of Mill Square to build a multi-use development.
Part of that development may include a casino. Rovazzi said he’s open to working with Sault developer Frank Shunock, who has spoken of his interest of developing a casino on the property.
“We would have to figure out what his size requirements are, and we're going to agree to meet in the near future, and probably a good portion of the site would be dedicated to the casino,” Rovazzi told reporters following the Jan. 12 meeting. “And then there's the ability to redevelop the existing casino site for some of our uses, so it's a good synergy."
Rovazzi also said Mill Square, which is gradually evolving into a multi-purpose site to the west, will complement, rather than compete with, his proposed development.
Rovazzi's proposed Canal Village Development Project would include health and wellness facilities (possibly a new YMCA), a park, trails, bike paths, a retail and restaurant component and a residential component with condominiums and apartments.
The Canal Village Development Project would form part of a current large-scale strategy to redevelop a much larger area known as the Canal Zone, which includes Mill Square and the Gore Street corridor.
Rovazzi is involved with North American Development Group, developers and owners of commercial properties with 20 million square feet in their portfolio.
“We're going to explore the negotiations with the city on the site and we will see if it's a viable site for our needs,” Rovazzi said. “We're hoping in the next month or two we'll complete a deal, which will give us a feasibility period and exclusivity on the site, and we'll go from there."
Two city councillors will be named to a group that will negotiate a price with Rovazzi.
“We've looked at Sault Ste. Marie a couple of times (for development purposes on Great Northern Road).… I was always interested in Sault Ste. Marie because it seems to be an open place to do business,” Rovazzi said. “Staff and council are open for business and that's what attracted me.”
Rovazzi said the vision for the project came about with the help of architect Pastore.
He did not disclose a price that he would be willing to pay for the property.
Rovazzi told reporters he is aware of past failed attempts to develop the property, known as the Gateway site, calling them “grandiose in scale.”
“We pride ourselves in pragmatic development,” he said. “We're going to be very methodical and we're not going to put forward anything we don't think we can execute…the plan we've put forward is in its early stages. We think we can execute it.”
It is estimated the development will take five to seven years to complete.
This story, written by Darren Taylor, originally appeared on Sootoday.com.
