Brewer Lofts to create 'real experience' in Sudbury developer says

The developer of The Brewer Lofts condo project in Sudbury figures it will be another year before construction can begin on the vacant building.

The project was recently approved by the city under its Community Improvement Program (CIPs).

Greg Oldenburg says it was this policy that he had in mind when he first purchased the old Northern Brewery building on Lorne Street in 2014.

The city described CIPs as a 'planning tool' used to help revitalize areas of the community through programs, grants and incentives.

How the program works is developers invest in their properties, and their property assessments increase, as does the city's tax base. Then after a period of time the developer gets a rebate from the city.

"It's not a grant really, it's more of a rebate, in that we create a new tax value and whatever the new value is that's rebated back to us based on the policy that's been created," Oldenburg said.

"My business plan needed to include the rebate of what we're receiving back from the city," he said.

For the Brewer Lofts, Sudbury city council okayed more than $4 million over a ten year period, about $460,000 a year. Oldenburg's project was turned down by the city in December 2017, when the ask was $9 million.

"This is not a handout," he said.

"We have to spend a lot of money to get the tax value of this property to a point that I think represents what this property can deliver for the city."

The plan for the old brewery is to turn the large building into almost 50 condo units, along with commercial space and possibly an art gallery. There will be outdoor parking, along with both a surface garage and an indoor garage.

The project includes the purchase of a nearby section of Alder Street, which the city has deemed as surplus.

That will be turned into a small public park, public art and walkway.

Oldenburg compares Sudbury's Brewer Lofts to the Meatpacking District in New York or the DistillaryDistrict in Toronto. Both former industrial areas that have been transformed into hip commercial and residential neighbourhoods.

"This property is capable of creating a real experience for people, irrespective of the fact that it is across the street from a rail yard, but there is a certain quality and characteristic of what we're going to do here that I think people are going to gravitate towards."

Over the next 12 months, detailed drawings will be finalized for building permit approval from the city.

Oldenburg says construction inside the building won't happen until this time next year, with a 15 month timeline. If all goes as planned occupancy could happen by summer 2021.

"The goal is to see this place redone in a way that I think is respectful to the citizens of the city, and also to the property itself."