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11 | 30 | 2017 VOLUME 22 | ISSUE 48
KOINONIA SET FOR CHRISTMAS IN CONCERT THE ARTS PAGE 18
COMMENT PAGE 8
A LOW PROFILE COULD WORK IN BROWN’S FAVOUR
www.OBSERVERXTRA.com
ELMIRA COLLISION WIPES OUT HYDRO POLE, POWER TO CUSTOMERS
Approximately 1,700 Waterloo North Hydro customers lost power Monday morning following a collision at the intersection of Arthur Street and Oriole Parkway in Elmira involving a transport truck and white Dodge pickup truck. See page 5 for more information. [ALI WILSON / THE OBSERVER]
Farmers’ market, surrounding land to be sold Mercedes Corp. reaches deal with Schlegel Urban Developments to sell businesses, 45 acres of land in St. Jacobs
ALI WILSON ST. JACOBS FARMERS’ MARKET and market district businesses are set to change hands from Mercedes Corp. to Schlegel Urban Developments Corp. in early 2018, contingent on obtaining the necessary corporate and regulatory approvals. The sale will include the land and operations of the St. Jacobs Factory Outlet mall, the St. Jacobs Farmers’
Market, Market Road Antiques and the TSC property. The businesses and approximate 45 acres of land on which they sit, is currently owned by families of Ross and Milo Shantz and 40 independent shareholders. Financial terms of the deal were not disclosed. Since 1975 the land has been home to the Ontario Livestock Exchange (OLEX) and the St. Jacobs Farmers’ Market with more than 350 year-round vendors. Today the second generation of
Shantz entrepreneurs operate and partner in the farmers’ market, restaurants, furniture stores, hotels and other business enterprises. The farmers’ market and Village of St. Jacobs are now an international destination, attracting more than one million visitors to the area each year. Owned and operated by the Ronald Schlegel family, the Schlegel family group of companies is actively involved in a wide variety of businesses, including
mental health and addiction services across Canada, seniors’ care across Ontario, as well as urban development and agri-business more locally. One of the portfolio entities, Schlegel Urban Developments is a Kitchenerbased real estate company recognized for its residential subdivision projects and commercial developments, the most prominent being the mixed-use Williamsburg Town Centre on FischerDEAL | 7
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