WINDSOR, Ont. — London developer Shmuel Farhi has expanded his downtown land holdings, securing two prime riverfront properties.
Farhi Holdings has completed a $1.4-million deal to buy two half-acre sites on the east and west corners on Janette Avenue and Riverside Drive West.
Each property is zoned for mixed residential and commercial use, with permission to build up to 26 storeys.
"We are basically moving forward with our plan to develop the unique part of the city," Farhi said Monday. "This is part of a much larger plan and purchase.
"I don't come to Windsor to build a coffee shop. I come there to build and transform this great city that was hit so hard by the economic meltdown. I hope my vision for this part of town will be sooner rather than later."
Farhi said he would like to see fruition of the city's canal plan or construction of a marina in that area, but hinted that of greater importance would be expansion by either St. Clair College or the University of Windsor into the city's core.
Mayor Eddie Francis and council have for months been working with the two local post-secondary institutions and private landowners in a bid to bring more students downtown.
"We have to do something to bring people -- more white-collar jobs, those who stay after 6 p.m. and reside down there," Farhi said. "No community can exist if downtown has the perception it's not safe and healthy.
"With post-secondary education -- the college and university -- you move a mass of students."
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http://www.windsorstar.com/business/Farhi+lands+more+properties/3433893/story.html#ixzz0xXuB3c58