ELORA – Pearle Hospitality has decided to not pursue the proposed Elora Riverwalk project at this time.
In the County of Wellington’s Economic Development agenda for Tuesday’s meeting, Crystal Ellis, director of economic development, reported that after some preliminary discussions with public partners for the proposed Riverwalk project, Pearle Hospitality has decided to not pursue it at this time.
“This is the only information we have at this time with regards as to why they decided to not pursue,” said Ellis in an interview.
“We stated that they’ve had preliminary discussions with public partners for the proposed Riverwalk project, and they decided to not pursue it at this time.”
Elora Mill communications advisor Sara MacIntyre issued the following statement to EloraFergusToday:
“After some preliminary discussions with our public partners for the proposed Riverwalk project, we have decided to not pursue this project at this time. We remain committed to building public green spaces that are supported by the local community. We will continue to review and assess different funding options for this project.”
The proposed project created a buzz at the Oct. 28 county council meeting as councillors debated whether they should contribute the requested $915,300 or not.
The Elora Mill, a subsidiary of Pearle Hospitality, was proposing a partnership with the County of Wellington to develop the Riverwalk, a new public space in downtown Elora.
It would be located in an undeveloped area along the south bank of the Grand River in Elora, between the Badley Bridge and Jack R. MacDonald Bridge.
The waterfront area is approximately two-thirds owned by the Elora Mill and one-third owned by the County.
The Riverwalk was estimated to cost around $2,745,900.
Developers requested funding of $915,300 each from the county government, Elora Mill, and grant sources such as the Federal Revitalization Fund and the GRCA foundation.
