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  #2121  
Old Posted Apr 16, 2014, 9:00 PM
alittle1 alittle1 is offline
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Property used to be owned by Sam Werier at one time. His wife was taking care of the properties up until a couple of years ago.
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  #2122  
Old Posted Apr 16, 2014, 10:35 PM
Simplicity Simplicity is offline
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Quote:
Originally Posted by alittle1 View Post
Property used to be owned by Sam Werier at one time. His wife was taking care of the properties up until a couple of years ago.
Yeah, and now Allan Werier, who is actually certifiable, takes care of everything for the old lady.

His response when asked by a Free Press reporter why he wasn't cutting the grass or moving on any sort of development? "Why don't you go and cut the grass. And are you going to invest the money to develop it?". This from a family that is wealthy beyond reason.

They're the same family that owns the blocks on Wellington between Cockburn and Daly that are caving into the ground. Management changed to Leon A. Brown sometime around 2006 and they upgraded a few windows here and there to get the rents up a bit, so it's possible they now have an interest - and Bob Brown is actually a quality property owner - but those buildings are an eyesore and almost completely derelict, so it seems like it's still being run in the style of the Werier family which is to say, run straight into the ground with as little reinvestment as possible.
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  #2123  
Old Posted Apr 17, 2014, 3:47 PM
alittle1 alittle1 is offline
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The properties on Wellington are waiting for a offer, somewhere in the 5 -6 mill range last time I checked. The thought was to make them in to condo's, but the Kid doesn't want to do any investing because his momma controls the purse strings. Sam didn't have time to teach the Kid the in's and out's of the real estate business.
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  #2124  
Old Posted Apr 17, 2014, 4:22 PM
Simplicity Simplicity is offline
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Originally Posted by alittle1 View Post
The properties on Wellington are waiting for a offer, somewhere in the 5 -6 mill range last time I checked. The thought was to make them in to condo's, but the Kid doesn't want to do any investing because his momma controls the purse strings. Sam didn't have time to teach the Kid the in's and out's of the real estate business.
Yeah, and they'll be waiting for a long, long time. The cost of demolition is easily half a million dollars. Nobody is going to pay $6-$7MM by time it's graded and cleared just for the land. They're trying to sell the cash flows like it's a going concern. You couldn't even do due diligence on the property - there's so much untriggered liability just waiting for an inspection it would cost $5MM just to upgrade the building.

Sad state of affairs over there...
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  #2125  
Old Posted Apr 17, 2014, 5:27 PM
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Cyro Cyro is offline
 
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Octogenarian fisher nets first musky taken from Lake Winnipeg
By: Bruce Owen

Musky in Lake Winnipeg?? 1.2 meters in length..First Ever..which goes to prove even the so called experts can be wrong..

Video Link


Can't wait for my 1st fishing trip of the year..

Source

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