A proposed redevelopment of Bayside Centre is reportedly being re-evaluated as the result of an out-of-court settlement following a number of weeks’ uncertainty over who actually was in charge of the Sarnia downtown commercial property.
Gord Laschinger, who emerged as the “sole owner” of the Centre earlier this year, is now reportedly out, although he remains owner of the Drawbridge Inn, which he bought separately from the Bayside transaction.
Laschinger also owns the former Industry Theatre as well as land that was purchased for a proposed senior’s residence.
A media outlet has reported that Malvinder Singh, CEO of Chilton Capital Inc., who held the original mortgage on Bayside Centre, is working with Italo Ferrari, president of Wilsondale Assets Management.
Wilsondale was the company who Laschinger had originally worked for when Bayside was bought out of receivership last year.
Singh has reportedly said that he and Ferrari will be working together on Bayside, although it is currently unclear as to the status of various aspects of the redevelopment.
In the meantime, local management of Bayside is being handled by Marilyn Moddejonge, who was promoted from assistant manager after the previous manager, Mike Service, was dismissed in late August.