Mission Group purchases mega downtown lot
Mission Group has identified itself as the local developer that's purchased the old Bargain Shop, which is downtown on 1.5 acres of Bernard Avenue between St. Paul and Bertram.
VP of Development Luke Turri is describing it as a once in a lifetime opportunity.
"We don't have any detailed concept plans to share at the moment, but we know it's going to be a significant mixed-use site, and it will certainly be one of those once-in-a-blue moon legacy pieces in downtown. So it'll absolutely include a mix of retail and residential uses, and we're excited to get to work on developing a concept," he said.
He says it's too early to draw comparisons between this site and the ELLA condos planned for Ellis and Lawrence, but that the overall concept will be similar.
"We know that it's going to be a significant piece, and we absolutely expect it to have a mix of retail and residential like ELLA does."
Turri also says at this point, they haven't imposed a hard deadline on the concept design process.
"It's a little premature to talk about the development schedule, we really want to make sure we get this right," he said.
The financial details of the sale were not released, though the property was listed for 9.4 million dollars.