The site of the former Kerr Apartments is back on the market.
Bob Bourke, a RE/MAX real estate agent representing the owner of the Victoria Street property, said the lot was listed a month ago and was just reduced from an asking price of $1.4 million to $1.2 million.
The property has been vacant since January 2011 when a fire destroyed the 100-year-old Kerr Apartments building and displaced about 80 people.
Bourke said the current owners have had the lot for two years with plans to build a condo development, but have now decided to move on to another project. The land, which consists of five lots, is zoned for commercial and residential use and can be bought as a whole or in two parcels.