A successful swap
Published 9:48 am Monday, May 4, 2015
Niles officials got two birds with one stone last week in getting an up-and-coming company into the Gallery Building at 127 E. Main St. in downtown Niles.
For several years, the city had been trying to sell the building with no luck, after purchasing it in 2012 to keep it from falling into the hands of a buyer who might do nothing with it.
UltraCamp, which offers management services for camps across the world, needed a new office building to keep up with its growth.
The Gallery Building turned out to be the right fit for the company and the city was happy to get rid of it.
On Monday, the Niles City Council voted to approve a property swap with UltraCamp that accomplished two goals: it helped out a small business while simultaneously finding a buyer for an important downtown property.
In exchange for the Gallery Building, UltraCamp will give the city just under two acres of land adjacent to Plym Park and near the Niles-Buchanan YMCA. UltraCamp purchased the land three years ago hoping to build upon it a new $1.2 million office building. However, they could find a financial institution willing to provide enough financing to get the project off the ground.
UltraCamp leaders say they already have a verbal commitment for financing to rehab the Gallery Building, which needs about $1 million worth of work, according to the company’s owner.
We are looking forward to seeing what the building looks like once UltraCamp is finished with the rehab, which could begin in a little more than a month from now.
This is a positive step forward not just for Niles, but for a small business as well.
Opinions expressed are those of the editorial board consisting of Publisher Michael Caldwell and editors Ambrosia Neldon, Craig Haupert, Ted Yoakum and Scott Novak.