The former Canadian Tire building and property has been sold to a Calgary-based development company.
Kanas Corporation has purchased the property and the building, and will be investigating a number of potential land uses, according to the City of Cranbrook.
“This fits very well within our housing strategy and will be a huge benefit to our overall economic development plan. We are very pleased to see this investment in Cranbrook,” says Mayor Lee Pratt. “The former Canadian Tire site has been given a new life. There are new jobs and new homes on the horizon because of this re-development.”
Kanas President Robert Sipka agrees, “We, too, are pleased with this investment. We are impressed with the opportunities to grow within the East Kootenay, and believe Cranbrook is a great place to begin that growth.”
Kanas Corporation has been involved with the construction and management of a number of high-rise buildings and affordable rental projects in Calgary, as well as an 80,000 square foot car manufacturer service centre.
Next step for the newly-acquired land will be to add a solar panel array to the existing building in order to reduce environmental footprint, develop a master plan for the property and apply to change the Official Community Plan and zoning to allow for a mix of uses.
Potential options for the land include adding a residential building to the north side of the property, as housing has been a constant need highlighted by a recent housing needs report recently presented to city council.
The existing building on the land may be used a storage, assembly and logistics hub given its proximity to Highway 3.
Or it could house a craft brewery, commercial bakery, glass- blowing studio, or other creative workspaces. Kanas welcomes expressions of interest.