October 04, 2016 - 10:49 AM
LAVINGTON - The old Lavington glass plant is getting a new start.
After sitting empty for eight years and being put up for sale multiple times, the large manufacturing facility on Hill Drive has finally been sold. Previously listed for over $9 million, the price was dropped to $5 million earlier this year.
The new owner is Restoration Lands Inc., a Vernon-based development company formed solely for the redevelopment and repurposing of the Lavington property, according to a media release.
The principals are Michael and Sharon Molnar, local business owners and regional developers who have lived in Vernon since 1993.
Details of the development will be announced later this week.
The property is just over 91 acres, and the main building itself is roughly 10 acres in size. There is also a roughly six-acre warehouse and a railway spur connecting to the Canadian National Railway line.
About 300 people lost their jobs when the glass plant shut down in 2008.
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