Shmuel Farhi trucks steel away from outside WFCU Centre

By Doug Schmidt, The Windsor Star February 23, 2010

Scrap metal is removed Monday from the former Lear Plant on Lauzon Rd. in Windsor, ON. near the WFCU Centre.

Photograph by: Dan Janisse, The Windsor Star

WINDSOR, Ont. — Heavy-machinery crews have been working seven days a week at the former Lear plant property on Lauzon Road, picking apart and hauling off the unsightly heaps of scrap steel next door to the WFCU Centre.

"I made the commitment to remove it by the spring," said Shmuel Farhi, the London developer who purchased the property in 2005.

The mountains of twisted iron girder and cladding were the source of constant public complaints to city officials and councillors. Although a demolition permit was issued in December 2008, the owner had until October 2010 to remove the scrap.

Farhi told The Star he was doing the cleanup of the 7,000 tons of steel now, despite the fact global steel prices are half what they were 18 months ago. He said the site should be cleared by sometime in March.

While he has "great plans" for the site, including mixed-use retail and residential, Farhi said they wouldn't be implemented in the immediate future.

"In this economic climate, bankers are very conservative -- building on spec is not our forte," said Farhi, who owns a large chunk of downtown London as part of his company's extensive real estate holdings.

But Farhi promised "very, very exciting news" coming soon for downtown Windsor.

The year after acquiring the 100-acre Lear property for $8 million.

Farhi traded 40 acres of the land in 2006 to the city for its new arena, in exchange for a prime 1.1-acre site west of the Art Gallery of Windsor plus $1.5 million in cash.

Farhi wouldn't say what those downtown plans are but promised an announcement "very, very shortly" involving "my plan for the downtown."

There are rumours Farhi Holdings Corp. has been actively acquiring, or negotiating for, more downtown Windsor properties to add to its portfolio. Farhi won't divulge details, but said in December he was optimistic about the city's future and would be "expanding" in Windsor in the next few months to take advantage of "once-in-a-lifetime" opportunities.

Farhi said his company "took a huge loss" on the 2005 Lear property, which had been leased until 2012 to the auto parts manufacturer, but which closed down in mid-2008.