Missing Developers Fined $55 Thousand

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The owners of the former Northern Breweries property has been fined $55,000 in provincial court.

The fine stems from Renaissance Place Corp not complying with an order issued by the City to address safety concerns with the building.

The fine was issued yesterday, no representative from the development company were present, which has been the case for several years. The City issued work orders to board up the building and to address concerns with the roof.

Whether the City sees any of the taxes and fines owed remains to be seen. The developers seem to be missing in action since they declared their intentions on the property.

The building was a scene of a fire that resulted in the City demolishing the front portion of the building. Those costs were added to the property tax bill. The company however has not paid taxes on the building nor has it been in communication with the City.

The Toronto based company purchased the vacant building and had plans to contruct a 40 storey condominium with retail space and offices. That plan fell apart about a year later and no word from the owners since then.