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New owner for Atrium Building site

Aug 1, 2017 | 9:33 AM

LETHBRIDGE — It could be a fresh start to a beleaguered downtown lot.

There is a deal to sell the Atrium Building site on 7 Street S. to the same company that turned the old Woolworth building into Suites at 601. Michael Kelly, the city’s manager of real estate and land development, explained council approved the agreement July 17.

“We received four bids on the property,” Kelly said, “We had a list price which was established on appraisal from a third party for $249,000. Stone Arbour Developments Inc. had the high bid at $261,000.”

Kelly added the developer wasn’t required to provide plans.

“The property is zoned Downtown Commercial, and there’s certain things that can happen with it based on the zoning,” he explained.

The sale agreement is scheduled to close Dec. 20.

Work began on the Atrium Building in the 1980s, but it was never finished. The structure stood as a bare skeleton until it was demolished by the city in 2013.

(This is a corrected version. The original story incorrectly referred to 7 Avenue S.)