A prominent building on Summerside’s waterfront is getting a $700,000 makeover by a developer.
The sale of the Summerside Shipyard property is part of the city’s decade-long plan, unveiled last month, to revitalize its downtown area and waterfront.
“I’m really excited to see another project develop, another step forward,” said Mayor Dan Kutcher. “It feels a bit like the end of the beginning because we’re starting to get that momentum here.”
Corfam Investments Inc. purchased the building from a city-run non-profit, Sustainable Tourism Inc., for just $1 after being selected through a request for proposals process.
“We’ve been doing [this] now for 18 years in the full-service business and feel very confident that Summerside needs more of that,” said Corfam’s president, Duke Cormier.
“So that’s why we jumped on this project.”
Cormier, who also owns the restaurant FiveElevenWest in Credit Union Place, made the announcement alongside city staff Monday morning. He said he wants the venue to become a year-round restaurant and events space.
Duke Cormier is president of Corfam Investments Inc., which bought the Shipyard from the city for $1. (Mare McLeese/CBC)
Currently, the building hosts weddings and has a restaurant that’s open only seasonally.
“We’re going to break the space up into two and have the ability to have meetings for up to 100 people and have a restaurant that’s able to seat 100 to 110 people,” Cormier said.
With a patio open during the summer months, that number could increase to as many as 160.
A comfortable spot
Cormier said the plans are to create a comfortable atmosphere, not something pretentious.
“In the summertime you can show up with your sandals, you can show up with your soccer team,” he said. “You can show up with a group of guys or a group of girls, or a date night, or whatever the case might be.”
The interior will feature propane fireplaces and televisions and modern technology for servers and meeting guests, but will maintain a seaside feel.
Summerside’s Shipyard to be transformed under new ownership
Summerside Mayor Dan Kutcher says the revamping of the Summerside Shipyard property is just one step in revitalizing the city’s downtown. The building’s new owner Duke Cormier says the year-round restaurant and events space will include a menu that’ll satisfy as many people as possible.
“The decor part is making you feel that you’re in a rustic waterfront location; that technology is kind of invisible,” Cormier said.
As for the menu, seafood will be front and centre, but there will also be pasta, chicken, ribs and options for those who are vegan, gluten-free and others with dietary restrictions.
‘Time to roll up our sleeves’
Kutcher hopes announcements like Monday’s will continue.
“We really want our downtown to be a vibrant hub for our city to connect our historic downtown Water Street to our waterfront,” he said. “I think this is a great step in that journey.”
Kutcher said the city is trying to prioritize its residents, but at the same time draw in more visitors.
Summerside Mayor Dan Kutcher says he’s excited to begin the next steps in the transformation of the city’s waterfront and downtown. (Mare McLeese/CBC)
“We’re focusing on trying to retain and attract young workers and families to create that vibrant atmosphere in our downtown core,” he said. “But also to make sure that our older adults and seniors have places to go and mingle and meet.”
Cormier said the venue will employ about 30 people. He hopes to start renovating the exterior later this summer, but said weddings and other events already booked through the current operator won’t be impacted.
Interior renovations will happen over the fall and winter, with the re-opening planned for spring 2025.
“We’ve already done a lot of work, but we have a lot of work to do,” Cormier said. “So, it’s time to roll up our sleeves and get at it.”
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
