The new owners of Bayside Mall have acquired five other buildings in Sarnia's downtown core and are looking at three others.
Wilsondale Assets Management representative Gord Laschinger told county councillors Wednesday they have bought the Industry Theatre, Taylor's Furniture store and the Drawbridge Inn.
Laschinger later told reporters the mall was purchased for $1.75-million.
He says they would like to bring the shopping centre up to standard with the rest of the downtown.
"There's a fair amount of people that want to live in downtown Sarnia now," says Laschinger. "I think if they get the amenities, grocery stores and more restaurants, it will only help."
Laschinger says they tried to purchase surrounding properties before closing on Bayside Mall to create a more open concept.
Some, including the former Industry Theatre, will be torn down.
The new mall developers previously announced plans for the shopping centre include a multi-storey seniors housing complex, a grocery store anchor, a market square, restaurants and more.
Wilsondale Assets Management closed the purchase of the mall October 8 and have made repairs on the aging roof and escalator since then.
Laschinger hopes they can move forward with the purchase of three more properties and the revamping of the interior of the mall on a $13-million budget over the next 18 months.
