The Schneiders plant has produced its last slice of luncheon meat, but city officials and developers believe the property has a bright future — as redeveloped land at the heart of a community in transformation.
"A site of this size is extremely rare," said Karl Innanen, Managing Director of Colliers International Waterloo Region.
"It will bring in national investors, and certainly large regional and Toronto-based investors to come out and take a look at it."
The city has grown up and around the old Schneiders plant and the property is worth millions. For developers, this is an opportunity to maximize residential density near the future rapid transit line that will need people to live close by, all with the support of a municipality that wants to increase population density in its core.
"The Schneiders site is also big enough to be a catalyst that changes the whole neighbourhood," Innanen said. "It's a makeover that could take some of the sting out of the 1,200 jobs lost when the plant closed."
Read full story: The Record