The City of Cranbrook has sold the former downtown Fire Hall to a local business group for $195,000.
The building on 11th Avenue South will get a new lease on life, after being on the market for nearly two years.
Mayor Lee Pratt says the sale will help bring new energy into the community
“If its sitting there vacant, its just deteriorating and it gets to a point where it becomes a huge liability for us,” Pratt says. “So this way, we get it sold, these guys are going to take it, renovate it and rebuild it and it fits well into the city’s vision of revitalizing the downtown area. So this is another block that will have some action on it.”
The Fire Hall was originally built in 1929 and sold far lower than the $349,000 it was originally priced for.
Pratt says the building wasn’t originally priced to its actual value, as it needed a lot of work and didn’t meet building codes.
“The first price we had wasn’t really an appraised value, it was more like we thought the market would take that, but the market value wasn’t right” Pratt says. “So then we had it appraised and then we came in with an appraised value. We gave a little bit up on it, but these guys were prepared to go and go quick, so we decided it was beneficial to do that.”
The new owners Fred Williams and Jesse Roberts plan to invest over one million dollars into the building to convert it into a restaurant pub.
– Cranbrook Mayor Lee Pratt
– Jeff Johnson