THE OLD YMCA BUILDING IN PETERBOROUGH, ONT.
Credits: CLIFFORD SKARSTEDT/PETERBOROUGH EXAMINER/QMI AGENCY
PETERBOROUGH, Ont. ─ A ormer YMCA building, purchased from the City of Peterborough for $1 in 2007, is now up for sale for $1,475,000.
The architectural gem that sits at the northern entrance to Peterborough’s downtown with more than 107,600 square feet has been listed on DTZ Eastern Ontario.
The building is a heritage structure under the Ontario Heritage Act, with the original section built in 1892 and an addition to the south built in 1930.
It housed the YMCA until 2007 when the organization moved to a brand new building, and Dr. Jenny Ingram, a geriatrician, purchased the old building for a buck with ambitious plans to convert it into a community centre for seniors with commercial and residential space.
The city turned down other offers on the building, including a bid by a Toronto developer for $2.5 million, choosing instead to support Ingram’s plans for redevelopment seen as a major potential boon and revitalization project for the downtown.
But since its purchase in 2007, Ingram’s attempts to redevelop the property have lagged and changed numerous times.
“I want to assure you that I look forward to rejuvenating this beautiful old building into something that will serve this community very well,” Ingram said during a ceremonial key presentation in January 2007.
Now it’s up for sale, $1,474,999 more than it sold for seven years ago.