EDITOR'S NOTE: A version of this article originally appeared on SooToday on March 11. It is being republished here for readers who may have missed it.
The Sault-based contractor initially entered into an agreement with the group in September 2022 to demolish the former school at a total cost of $249,000. As first reported by SooToday, Leisure Meadows Community Living is currently locked in a court battle with the City of Sault Ste. Marie over what it calls an “illegal” property standards bylaw that forced Ferrari to board up entries and provide around-the-clock security services at the old hospital site.
Ferrari and company’s unrealized developments are more than evident in the west end, where a sign advertising the future home of ‘East Balfour Residences’ has since been removed from the premises, along with the remains of the former St. Veronica school site. According to land registry documents, there are two mortgages registered on the former St. Veronica’s property. The first, for $1.85-million, lists the lender as Berkshire Enterprises Inc., an asset management company owned by Michael Anobile, who is also president of Leisure Meadows. The second, for $400,000, lists the lender as M Plus M McKerlie Holdings Inc. and the guarantors as Ferrari and Anobile.
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