News Release - Greater Napanee Council Approves Sale of 12 Market Square

(GREATER NAPANEE, ON) – The Town has sold its building at 12 Market Square for $380,000 plus HST, funds that will contribute to its ongoing renovation and beautification efforts in the area.  

The building’s sale price of $380,000 (plus HST) was the highest bid on the property the Town received during the property’s six months on the market. The anticipated net proceeds of the sale are approximately $352,500. 

Based on Council’s direction, the proceeds from the sale of properties in Market Square will be placed into a dedicated reserve fund for Market Square revitalization. This reserve will also support ongoing remediation work at Town Hall.   

As part of a broader strategy approved by Council, the Town is selling surplus properties and reinvesting the proceeds into key municipal assets and infrastructure. These funds will also help the Town start paying off outstanding capital debt.  

The proceeds from this sale will help fund the next steps in the Market Square redevelopment process, which include:  

• A staff report to Council recommending the preferred method of procurement for the project.  
• Working with a design/build contractor to begin the design work. Design work will consist of two phases: 
  • Phase 1 - Town Hall Main Floor Renovation - Design & Engineering Phase. 
  • Phase 2 - Napanee Rotary Centennial Market Project at Town Hall - Design & Engineering Phase.
• Committee and stakeholder feedback, recommendations, and approvals.  
• Presentation of design concepts and estimated cost to Council for approval.  

“As we continue remediation work at Town Hall, I’m pleased that the proceeds from the sale will help move forward revitalization work in Market Square,” said Mayor Terry Richardson. “I’m excited to see the progress we can make to enhance this historic space within our community.”

Council approved the sale at its February 10 Regular Session of Council. Updates on the work being completed in Market Square will be available on the Town’s website as the project progresses.  

Media Contact:

Kylie Huffman

Community Engagement & Communications Coordinator

Town of Greater Napanee

T: 613-776-1116

E: khuffman@greaternapanee.com

-30-