Home 99.1 News Bloomfield Business Park Construction Taking Too Long

Bloomfield Business Park Construction Taking Too Long

Chatham-Kent’s Bloomfield Business Park.

The municipality wants to rebuy two parcels in their industrial park from companies that are taking their time in starting up construction on their property.

As per their contract, Chatham-Kent can repurchase their land in the Bloomfield Business Park if businesses don’t build within a set time. Chatham-Kent council will consider a request from administration to buy the land back from two holding companies at tonight’s council meeting. The property was originally bought in 2021, with an agreement to start construction within a year.

Flodo Enterprises Inc and Myriad Technologies Inc., both holding companies of Intrepid General Limited, have both asked for a six-month extension to start construction but the municipality is instead looking to refund what the two companies originally paid for the eight acres of property.

Once repurchased, Chatham-Kent plans to put the business park land back on the market.

Since 2021 the price of an acre in the Bloomfield Business Park has increased from $50,000 to $89,000/acre. If the land is repurchased for the original $392,000, the new price for the land will be just under $700,000.