A partner in the company that placed the winning bid in a public tender sale of the King George Hotel said demolition of the 95-year-old building is highly unlikely.

Ken Achs, a partner with Meridian Developments, said plans for the historic hotel have not been finalized, but they could include retail space on the main floor and condominium development on the remaining levels.

“At the end of the day, it will be a new landmark in the city,” Achs said Saturday. “The final product will be a plus for downtown Saskatoon.”

The city has yet to officially notify the company of its win, but the company has heard reports through the media of its successful bid, said partner Karl Miller.

On Friday, the manager of the city’s facilities branch, Andy Boys, confirmed Meridian had the top bid at $844,000. The company doesn’t officially own the building yet; Boys said city officials still need to review the bid and approve the sale. He expects that process to be complete early this week unless officials transfer the case to city council for approval, which Boys doubts will happen. The city placed no conditions on the sale regarding the demolition of the building or the type of new development, he said.

Achs hopes construction on the building will begin soon.

“All of this stuff just came down so fast for us. I can’t say what’s going to happen and when. Now (that) we’ve spent this money, we better get working,” Achs said.

The company has been praised for its restoration work with other historic buildings in Saskatoon, such as turning the 99-year-old Varsity View rental property on the corner of 14th Street and Temperance Street into the luxurious Villagio townhouses.

The King George was once a thriving upscale hotel and nightspot, but over the years fell on hard times and hosted its last guest in 2003. A fire in February 2004 saw the fire department issuing a repair or demolish notice for the building after it sustained minor damage.

The City of Saskatoon took the title of the building through the tax enforcement process earlier this year after a local development company, Olstar Developments, backed away from a plan to buy it from then-owner Nazir Kassam of Vancouver. Bidding on the property ended at 2 p.m. on Friday.

Information from: www.canada.com

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