The old Northern Breweries has been unoccupied for several years, and was last posted for sale in 2018, when it was listed at $1.25M
The long-vacant old Northern Breweries property has been posted for sale again, this time for $1.95 million, which is $700,000 more than its 2018 listing price.
An “enormous amount of work” had been done in planning for The Brewers Lofts, the advertisement of the day noted, citing a building structural review, land surveys and other efforts to support development options. Oldenburg introduced the idea of a condominium project several years ago, and in 2017 sought $9.5 million in municipal grants, tax exemptions and a personal loan to help fund the project. Included in the $9.5 million would have been an interest-free loan of $4.5 million under the city’s brownfield strategy program, which had an annual limit of $250,000. City council rejected the application during 2018 budget deliberations.
Although city council later approved $4.1 million in community improvement program incentives for the project in 2019, they can’t be accessed until certain benchmarks are met, such as taking out building permits or completing other aspects of the project. A city spokesperson confirmed on Oct. 13 that no money has been paid toward the project to date.
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