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Co-op demolition finally begins

WORK CREWS take down the east side of the Co-op earlier today as the building
WORK CREWS take down the east side of the Co-op earlier today as the building's demolition begins.
— image credit: MARGARET SPEIRS

A BACK hoe began pulling down the Co-op walls today as the building ends its time standing empty since it closed years ago.

That also means all the artwork from Graffiti Fest goes with it – although done as a way to make the grey building look better, there was disagreement as to whether it was an improvement.

Since purchasing the Co-op site, the city has been under increasing criticism for lack of progress in either reselling it or coming up with its own redevelopment plan.

Council decided to demolish the city-owned building after considering an appraisal that suggested the property will increase in value once the structure is gone.

With the building, the property would be worth $900,000 – to $1.075 million but without it, the value of the property could be worth anywhere from $1.35 million to $1.52 million, the appraisal suggests.

The city is spending $284,000 to tear down the building.

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