By Andrew Macdonald
Well placed sources tell The Macdonald Notebook that prominent Halifax developer Navid Saberi is paying top dollar to acquire the defunct Nova Scotia Textiles plant at Windsor.
The property, adjacent Hwy. 101 , was just put under option by Saberi, according to Notebook sources.
The textile plant closed in 2005 when the last 20 employees were laid off, and Haligonian brewer Kevin Keefe acquired it for a planned retail and residential development.
But plans stalled after the global recession in 2008-09, and the lender threatened to put the property into foreclosure — something that is impending.
Saberi has done a deal with mortgage lender Moskowitz Capital, a Toronto firm, which has long held a Halifax office. That firm is owned by Brian Moskowitz who was not available for comment.
My sources tell me Saberi is going to pay $725,000 for the property, close to the price Keefe paid in the last decade. In 2015, the property was listed for sale at $999,000.
The sources report Saberi plans a seniors housing complex at the property.
I spoke to Saberi this week. He owns United Gulf Developments, a prolific developer of condo and single family housing units.
Saberi stopped short of actually saying he has the historic property under option, but said he has been interested in the property for the last two years, adding Moskowitz Capital approached him about buying the textiles mill.
Saberi has previously received bridge financing for housing developments from Moskowitz.