The CEO of the company Armco Real Estate, Peter Smale, confirmed the filing of an overall plan that he believes complies with the most recent zoning changes . "I feel the good will of the council ," let he heard.
According to the plans obtained by The Guardian , less than half of the 500,000 square feet would be demolished to highlight the richest buildings and architectural heritage plans. The developer hopes to keep the buildings around 1900 .
This real estate project , including public and residential and commercial vocations , especially include loft style condominiums , commercial offices as well as indoor and outdoor parking . Mr. Smale also opens the door for a possible convention center, artists' studios and a kindergarten .
Technological Park of international quality as desired by Magog Technopole and the City of Magog, might be accommodated in a proportion ranging from 10% to 20% of the total space . "We have discussions with Magog Technopole and others interested in establishing businesses in our walls , but nothing is signed yet ," he says .
This project is not officially launched , but the promoter has four phases totaling $ 100 million , and over a period of 15 years. " As soon as possible " remains the objective of the developers, but the file will change depending on the permissions to obtain agreements to sign and market response .
The transformation of the former Paton plant in Sherbrooke, is a model to follow, but Mr. Smale says he is not the only source of inspiration for the conversion of the former Dominion Textile.
A partnership become
Difco was sold to Consoltex in 2011, a company that works particularly in the textile sector. Still owns the old part of the Dominion Textile , she announced in September 2013 its intention to form a partnership with Armco Estate, Magog Technopole and a major financial institution to transform the old places .
Founded in 1982, Armco Capital has built a small business that has become a diversified group of companies. Consoltex is a subsidiary of Armco and Armco Capital Real Estate is a subsidiary real estate development in Quebec Armco Capital.
Over the years , Armco has diversified into commercial, industrial and institutional sectors , as well as asset management . The company continues to diversify and grow both nationally and internationally and has to date properties in Nova Scotia , New Brunswick, Quebec , Atlanta , Florida as well as Texas.