12-22-2015, 09:27 AM
Drewlo Holdings is new owner of Waterloo Inn property
[sarcasm]
It must be nice to have a large wad of spare cash in your back pocket with which to blindly speculate in real estate.
[/sarcasm]
Quote:London-based Drewlo Holdings has purchased the Waterloo Inn property but the company says it has no immediate plans for the site.
Jerry Drennan, Drewlo controller, said in an interview with The Record that the company plans highrise residential with some commercial component, but exact details of the project aren't set.
"It'll be far in the future," he said. "Nothing's imminent with respect to the size and height and all that other stuff.
"We have to work with the city as well."...
Drennan said the company is "assessing all possibilities" for the unique 19-acre site at Weber and King streets.
Whether the hotel will be operated in the meantime is also undecided.
"Really, honestly (I) don't know, don't know," Drennan said. "It's not our forte, it's not our business so we're seeing what's out there … and it may be as a hotel, maybe not.
"We've just purchased it. We have no immediate plans for it. We're just seeing what we can do with it."
[sarcasm]
It must be nice to have a large wad of spare cash in your back pocket with which to blindly speculate in real estate.
[/sarcasm]