Deal to sell Sudbury's Ledo Hotel closes mid-June

The historic Ledo Hotel in downtown Sudbury will soon be under new ownership.

The property includes two buildings and a large parking lot in the heart of downtown.

Built in 1910 and operated as a hotel and bar, the site was home to bachelor apartments until a fire forced tenants out in 2020.

Since then, it's been on the market with a price tag of $1.2 million. Now it's being sold to three partners from North Bay. The deal closes in June.

"The Ledo itself we are looking at a $5 million renovation … which will help with also the local economy with manpower and supplies," said Stephane Roy, a potential co-owner of the Ledo Hotel.

"It's a good thing for everyone."

The property includes another building that Roy said offers affordable housing. He said that will also be the plan for the main building.

"This purchase is perfect to have a building in Sudbury that can help with affordable housing, help with getting people off the street," Roy said.

"A building just to give people a second chance."

Ward 11 Coun. Bill Leduc said this type of housing is urgently needed.

"This is a great location because all our supports are down here," Leduc said.

"We have the soup kitchen, we have the homeless network. We have the provincial building, we have a grocery store down here. We have … the major banks down here, so it's perfect fit for affordable housing."

The property also includes a large parking lot and Roy confirmed there are long-term plans for the whole area including space for non-profits.

"The whole lot is … I believe it's half an acre comes with the big parking lot," he said.

"We are looking at future development in the same kind of line hopefully to be able to offer more affordable housing to the community."

If all goes as planned, Roy said 26 bachelor apartments in the main building will be renovated and ready to be rented by the end of this year.