The former Navistar site on Richmond Street in Chatham won't be sitting empty for much longer.
Investors Rob Myers, Don Tetrault, and Mike Vagi have purchased the 80-acre property and unveiled their vision for the site on Tuesday afternoon. Tetrault said the environmental cleanup of the property is starting and there will be separate parcels up for sale soon. He said if everything goes according to plan, they should have some new business moving in within a few months.
Tetrault said he expects the site to be in high demand by both commercial and industrial sectors. Tetrault believes there will be a lot of interest in the site because it's fully serviced with utilities and it's on a major transportation route.
"We’ve successfully completed two years of negotiations with Navistar and we’ve already started preparing the site for redevelopment," said Tetrault. "Our goal is to be ready to accept development by the fall of this year."
Myers hopes to attract companies and jobs to the community and there have already been three or four inquiries by the government and others about the site. Tetrault said the trio of owners doesn't have any specific companies in mind, they're just looking for the right fit.
"It’s a dream of Don’s and mine to bring it back to life as a major part of Chatham’s economy," Myers said.
Chatham-Kent Mayor Darrin Canniff said the purchase by Myers, Tetrault and Vagi is evidence that Chatham-Kent’s economy is on the right track.
"Both Rob, Don and Mike have had long and successful careers. They have investments across Canada and abroad. They could choose anywhere in the world to invest and the fact that they believe in Chatham-Kent is impressive. I can’t think of anyone else who is in a better position to make this project a success," said the mayor.
Mayor Canniff also said Navistar is very happy that the property will no longer sit idle and that it will be an asset to the community once again. Myers said negotiations with Navistar were handled in a very professional manner and the deal closed just 10 days ago.
The price tag for the property is confidential and was not revealed.
Myers said the vision doesn't include creating any companies of their own because the owners are busy enough with other ventures. He said they could build structures to lease to companies but this plan "most likely" won't include an arena or a hotel. He also hinted about a future announcement that could be more appropriate for an arena but quickly added it's a discussion for another day.
