HEROD: Player in rental game comes to town
Here’s some real estate news of possible interest. Three properties on Towering Heights Boulevard in south St. Catharines recently sold for $37.7 million. Real estate records show the seller was George Wakil and Company Ltd. of White Oaks Resort and Spa fame; the buyer was Kingston- based Homestead Land Holdings Ltd. The key piece was the 135- unit Crown Tower apartment building , which, at 17 storeys, is St. Catharines’ tallest edifice. I doubt which company owns what apartment complex in the city is of much interest to anyone but residents of the buildings. And, for all I know, maybe these dwellings change hands on a regular basis. What makes this transaction potentially interesting for a broader audience, though, is the state of the other two parcels. They’re vacant, raw land. The larger piece, on the northwest corner of Towering Heights Boulevard and Glen Morris Drive , is 4.42 acres. The smaller one, across the boulevard, is 2.48 acres. Homestead Land Holdings is a fair...