By John Swartz
Monday night Orillia council passed a by-law confirming the sale of 150 Front Street South to Tai Fac Chow. The address is the old train station, home of Ontario Northland’s terminal, and until recently the home of the chamber of commerce.
Tai Fac Chow is the legal name of a person identified in a press release as Tim Chow.
“Tim Chow is a local community member and I’m not sure what other companies he’s associated with,” said Laura Thompson, Orillia’s manager of real estate. Thompson did not have further information about Chow, but a search turned up a Tim Chow who is affiliated with Malibu Investments Inc of Toronto. Malibu is condo developer with 3,500 units in place or under construction.
“I believe he has experience in development and he’s certainly looking to redevelop this property,” said Thompson.
The property was listed for $900,000 and council received several proposal/offers, selecting Chow’s. The building is protected by the Ontario Heritage Act and the actual sale price has not been released.
“That’s not typically disclosed until the property sale is closed and it’s closing November 1st, 2019,” said Thompson.
“The accepted offer represents the highest value financially and exceeded the City’s asking price,” stated Thompson in the press release.
(Photo by Swartz – SUNonline/Orillia)