Trent University group eyes 108-year-old Sadleir House

By MICHAEL HAMMOND

Peterborough Examiner On-Line Friday, December 26, 2003 - 08:00



Local News - A Trent University group could become the new owner of the 108-year-old Sadleir House early next year.



Derek McIntosh, a representative of the Downtown Student Facility Trust, said the group has been approved for a mortgage, one of the key stipulations to its purchase of the property.



“Having the mortgage in place removes a big hurdle,” McIntosh said. “I think we’re very close.”



McIntosh said the deadline for a deal with the house’s owner, Moloney Property Development Corp., has been extended to early February.



Before that time, the trust aims to shore up the remainder of the financing it needs to purchase the old mansion. The original deadline for a deal to be done was Nov. 28. The group reached a tentative deal to buy the house in the spring.



The trust will have to pay more than the $498,000 listed price for the house because it wants to buy the adjacent south lawn.



Last week, the city’s committee of adjustment deferred making a decision on a request from the group to sever the Sadleir House property from the adjoining Trent University townhouse complex at the corner of George Street and Parkhill Road.



McIntosh said he hopes the committee will make a decision on the trust’s request at its next meeting in January.



McIntosh said he’s concerned the city wants to have some land along George Street set aside for future road widening. He said a fence near the edge of the property acts as a noise barrier for the property.



So far, the trust has raised $110,000 through student levies and another $100,000 through donations from the community. The group is working to be registered as a charity to help it solicit donations. 



Right now, McIntosh said donors can contribute to the purchase of the house through repayable loan arrangements.



The trust wants to use the house for Trent University student groups as well as other community groups. He said the organization’s goal is to create a facility that acts as a bridge between the university and the city.



Inspections of the property suggest the house is structurally sound. Most of the renovation work, McIntosh said, consists of exterior improvements.



“There are a few exterior issues like the eavestroughs,” he said. “The majority of the work is cosmetic improvements.”



Sadleir House was once part of the university’s Peter Robinson campus, which was closed in 2001. Maloney Property Development bought the property from Trent in 2002.



Source: Peterborough Examiner On-Line