Former Canadian Tire property, building sold to Calgary development company

The former Canadian Tire property has been sold, according to the City of Cranbrook.

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.