SOLD!
The owners of RE/MAX Legend Real Estate North Bay have purchased three buildings on McIntyre Street, located across from the municipal parking garage.
RE/MAX Legend will move into the building which was built to replace the famous Barry Building destroyed by a deadly natural gas explosion and fire on January 8th, 1975.
A Heritage Site Plaque unveiled at a 2018 ceremony to recognize this tragic event as part of North Bay’s history, now sits in front of the building.
The plan for the two neighbouring buildings is to have them demolished, paving the way for a parking lot.
“My husband Barry and I are really excited because we have always wanted to own our own building. We dreamed of owning the building on Cassells Street but unfortunately that didn’t come to fruition as the current landlord decided not to sell the building,” shared Shannon Unger broker of record and owner of RE/MAX Legend North Bay.
The couple was then approached with the idea of purchasing the McIntyre Street building in downtown North Bay.
“Actually, one of my sales representatives called me one day and said, ‘You know, I think I’ve got a building that we would look really good in,” laughed Unger.
“So last Fall my husband Barry and I went down and had a look at the building and we worked with the owner and he was interested in selling it. We came to terms on it and then. of course, COVID-19 hit.”
The couple began wondering if it was the right move to make, during a pandemic.
“But at the same time, we never ever lost sight of actually owning our own building and investing in the city and that was really the driving force for us. We wanted to invest in North Bay and we love North Bay. We were both born and raised here and we chose to stay here and raise our family and have our business,” said Unger.
“We believed in the ownership portion because that is investing back into the community, that is investing in us, especially when COVID-19 hit. And as we thought more and more about it, we felt that if everybody pulled back during difficult times then things wouldn’t go well. And we’re part of that group of people that we have to move forward. We have to make things happen. We have to keep that positivity going.”
The couple forged ahead, and on June 30th the closing date, their dream of owning their own building become a reality.
“We bought the dilapidated buildings next door, and those are set for demolition later this year. So, we will have our own parking lot as well to go with our building,” said Unger.
“We are working with a couple of demolition companies that have quotes in, and we expect to have that done definitely before the snow flies. But we figure it may be as early as August.”
With possession of the building in hand, inside renovation work can begin.
“We are going to be renovating the lobby and the hallways. They’re in good shape but we are going to modernize them, update them and so on. The main level will be where we have RE/MAX Legends main office and walk-in traffic will all happen,” said Unger.
“We will be renovating and doing some personalization in that office space as well.”
Depending on how renovations progress, staff could be working out of that building before any demolition work is done.
“Technically we could be working out of there much earlier before the demolition. We do have some underground parking and currently the top floor is the only floor with a tenant in it. So, we’re not desperate for the parking lot to be done today to be able to work out of it. We do have the city parking lot across the street which is an actual bonus despite the fact we are planning for about 35 spaces on the property next door.”
Unger agrees that an investment of this magnitude demonstrates confidence in the North Bay real estate market.
“I believe in home ownership of course, that is part of why I am a realtor. But COVID-19 has really changed a lot of people. If a home wasn’t that important before, it sure is now. I think there is going to be a lot of people really, really looking at how they’re living and where they’re living,” said Unger.
“Home is a really important place and we love being part of that, and we love being part of North Bay. And real estate is a really important piece of that.”
