The owner of the former Silver City property in Windsor is applying for a demolition permit as it appears all options to get a new tenant into the former movie theatre have been exhausted.
Joe Mikhail, Director of Mikhail Holdings, says they were working with a group from Belgium that was interested in the site as a movie theatre but they chose to step back.
"Unfortunately a few days ago, the Belgium group said that they are still uncomfortable with the movie industry in Canada and they wanted to hold off on it for sometime until they see some improvements," he says.
Mikhail Holdings, which owns the property at the corner of Walker Road and Provincial Road, was informed by Cineplex in late January that the company would cease operations at the location.
Cineplex decided not to renew its lease at the site, which expires at the end of 2022, as it moves to focus on its nearby Cineplex Odeon Devonshire Mall Cinemas location.
Mikhail says it would be nice to wait but the taxes are extremely high on this theatre.
"When you're paying in excess of some $30,000 per month for taxes on an empty building, it's a hard pill to swallow," he says. "It's pushing me to the direction that I can't wait for Belgium, even though that would be the smart thing to do. We're proceeding with the demolition permit at this time."
Mikhail is disappointed because he's worked really hard to save the property.
"The definition of a developer is somebody who develops and builds, not destroys," he says. "I don't want my name attached to something I believe as significant as a Silver City, to be the guy that put it to the ground."
Mikhail is aiming to wait until the end of summer to commence any demolition in the hope another opportunity or option comes along to save the movie theatre.