(Alison Sandstrom/paNOW Staff)

By Alison Sandstrom

New Future

Recommended buyer wants to turn former Quality Inn into student housing

Sep 3, 2020 | 4:05 PM

A company that wants to turn the former Quality Inn into affordable student housing and accommodation for families visiting loved ones in hospital is being recommended as the building’s buyer.

Cumberland Crossing offered the City of Prince Albert $900,000 for the defunct hotel, well above most of six other offers received. Three companies bid $150,000 or lower.

Only one group bid higher than Cumberland Crossing, offering $1.1 million for the building. However that offer is conditional on a three-year lease option to buy with $100,000 down-payment, leaving the city open to risk if the company leaves the lease.

Cumberland Crossing also has plans for a restaurant and daycare on-site, along with a medical taxi for transporting guests, and a catering business with in-house and off-site catering.

Council documents indicate the city is owed $887,144 from the property, that includes unpaid taxes as well as $70,786 spent on repairs, security, power, energy and cleaning for the building.

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The city acquired the shuttered hotel through the Tax Enforcement Act in July, around a year after the previous owner closed the establishment.

Prince Albert city council is expected to give the sale final approval at Monday night’s meeting.

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alison.sandstrom@jpbg.ca

On Twitter: @AliSandstrom