KITCHENER — Plans to develop a long-neglected industrial property are in the works and will make the long-suffering neighbours of the dilapidated site "tremendously happy," says the real estate agent trying to sell the former Electrohome site.

"I can tell you right now there isn't any time being wasted. The focus is like 110 per cent on the property," said Adam Spylo, the son of the owner and the real estate agent handling the sale of the property at 152 Shanley St.

"We're very close to getting something done," said Andrew Spylo, a local real estate agent and landlord who bought the property in 1998 through a numbered company for which he is listed as the director.

Swift action on developing the site would be a major change, as the property has sat neglected for decades. Neighbours complain of bricks falling from the building, and the city has taken over sidewalk shovelling and grass cutting, adding those costs to the site's tax bill.

The numbered company that owns the site is also behind in its corporate taxes. In 2002, the province registered a lien against the property.

Over the years, Andrew Spylo has repeatedly failed to pay property taxes on the property, a contaminated former industrial site that has sat vacant for decades. In January, the property tax bill amounted to about $1.2 million.

The city filed a lien in 2011 for taxes owed, but took six years before it launched the first of its two efforts to recoup those taxes through a forced tax sale. The first sale, in 2017, failed when no bids met the minimum asking price. The second, in February, was cancelled after the owner paid the minimum asking price of $448,798.43. The move essentially allowed Andrew Spylo to retain the property by paying just 37 per cent of the taxes and interest he owed.

Meanwhile, he has listed the property for sale.

Real estate agent Adam Spylo said he's sure the city and the neighbourhood will be pleased with plans for the site, but was vague about details.

He wouldn't specify the asking price, saying that was up for negotiation. Adam Spylo did say his dad is confident he will be able to recoup the almost $449,000 paid out to stop the tax sale.

The property is close to a booming part of the city, walking distance from an LRT stop at King and Victoria streets, the future regional transit hub and the Breithaupt Block where Google has its Canadian engineering head office.

"The area is being developed down there. You know there's a lot of promise with the area. I think it's a tremendous site and I think it's going to do absolutely amazing with regard to what his plans for the property," Adam said.

He said it was too early to release details about the plans for the site. "All I'll say is I think everybody's going to be tremendously happy."

One challenge to redevelopment is that the 0.87-acre property is contaminated with metals, petroleum hydrocarbons and volatile organic compounds, including trichloroethylene, classified as a carcinogen by the U.S. Environmental Protection Agency. The city estimates cleanup costs are likely greater than the current value of the property.

But the city is keen to see the site improved, and developed a vision for the property to try and kick-start redevelopment. The vision calls for a six-storey residential building, with retail on the ground floor and underground parking.

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