After years on the market with no buyers, a prominent building in the heart of uptown Saint John has finally been sold.
Real estate agent Stephanie Turner says the sale of the former Woolworth's building is a milestone for the uptown.
"People walk by it every day. It's close to the city market, it's by the square, and it's been underutilized for far too long," Turner says.
Neighbours say it's long overdue.
"It's been sitting there empty. The windows have been smashed,” says restaurant owner Billy Grant. “It sat there and deteriorated over the years, so I'm glad and thankful and happy that that big space is going to be something new there."
The site was supposed to be transformed into an IMAX theatre two decades ago, but that was among many potential uses that didn't work out.
Turner says one of the incentives for purchasing the Woolworth's building can be found on the other side of King Square where the Irving Oil headquarters is under construction.
A two-year project was completed last month, restoring the facade on the Imperial Theatre on Kings Square. That building will be the offices for hundreds of employees.
The Vancouver-based developers who have purchased the Woolworth's building plan a mix of commercial and residential, including adding several floors to the property.
But there’s still uncertainty surrounding the future of the old courthouse building in King Square. There have been several suggestions and lots of speculation in recent years, but so far nothing has been resolved.
With files from CTV Atlantic’s Mike Cameron.
