A longtime staple, at the corner of Michigan Avenue and Christina Street North in Sarnia, will be getting some new life.
Sarnia News Today has learned that the former Chipican Motel has been purchased by a yet-to-be-named local buyer.
The property was on the market for about eight months.
Coldwell Banker Commercial Southwest Realty Broker Lou Longo said he couldn't disclose how much the property sold for, but said that it was just under the $2.6 million listing price.
"The buyer's intent is to spend a considerable amount of money on the motel to rejuvenate it and rebrand it as well," said Longo. "I think it's going to be a really good improvement for the neighbourhood, and I think the neighbours are going to be really happy with the final product. It'll be a good accommodation option for local people, as well as tourists coming to town."
Longo said he expects the buyers to come forward with detailed plans sometime in the near future.
"I think they're going to start with construction sometime later this year," he said. "I would think it's probably going to take them about six to eight months to rejuvenate the whole thing. They're talking about spending a significant amount of money, both on the inside and the outside. Once it's done, it'll be a completely new looking facility."
Longo said he wasn't surprised by how long it took to sell the property.
"These parcels typically take a lot of time to sell, especially with the interest rates going up and the economic environment changing a bit," he said. "It's a little bit longer to sell something like this. But, we were successful and I think it's going to be really good for the neighbourhood and the city.
The attached restaurant was not part of the purchase.
The Lake Point Grillhouse opened in the fall of 2018, but owner Kevin Frayne was forced to close the restaurant in 2021 due to impacts caused by the COVID-19 pandemic.
Longo said the former Walker Brothers' property remains for sale at the corner of Mitton and Wellington Streets, and would be prime for development.
He said it's on the market for about $1.75 million.
He previously told Sarnia News Today that he thinks the property would be a great spot for the County of Lambton to look at for affordable housing projects.
It's received preliminary approval for a six storey high-rise to be constructed.