Waterloo Summit Centre sale negotiations are continuing
The negotiations to sell off a town asset to a rehabilitation centre are continuing. Huntsville town council met in a closed-door meeting last week to talk about the offer from De Novo Trust Fund to buy the Waterloo Summit Centre for around $3.9 million. No decisions were made during that meeting, and town staff says they are continuing to negotiate with the company.
The town decided to offload the centre when the University of Waterloo pulled out of its lease agreement in March of 2017. A Request for Proposal was issued in the fall for interested companies to outline their plan for the building, whether it be to lease it or sell it. The town had a number of criteria to pick from the five bids it received, and in the end, decided the rehabilitation centre was the best option. That decision was made in November, and negotiations have been ongoing since then. De Novo currently operates a treatment facility in Sundridge, and this sale is expected to be part of an expansion.
There’s no word yet on when a final decision will be made.
Still no decision on Waterloo Summit Centre, negotiations continuing