- by Anne Finlay-Stewart, Editor
We had a visit at the Hub the day after we published an article expressing community concerns about the state of Seldon House (Coach Inn) on our main street.
Jeff Mundle, a representative of Blackthorn Mortgages and Investing Inc., came to tell us that the dumpster area was all cleaned up, and to ask me to sign a copy of my story “for our corporate wall”.
It was a good opportunity for us to learn more about the building from the man who owned it before BG Wealth and is currently their local representative, and Mr. Mundle was obliging.
The rooms are supplied with a bed and dresser, but not screens, curtains or blinds, he told us. “That's never going to happen,” said Mr. Mundle, explaining that they do not last. On our daily walks, Hub staff have noticed that residents use a a variety of materials to keep out the street lights and traffic lights for a better sleep. A blue and white checked table cloth or sheet has been in one window for many months, but that might be more difficult for weekly renters to procure.
Apparently the owners were waiting for the Owen Sound Fire Department to fix the Canadian flag which was partially detached from its halyard, and that has since been done. Fire Chief Phil Eagleson explained, “On duty crews used the opportunity as a training exercise with our newest team member. The task was completed very early on Easter Sunday before traffic in the area became busy.... For many years we have assisted in keeping this flag in a state of repair acceptable to proper flag etiquette suggested by the government of Canada. The National flag on this building is a prominent focal point when motorists are traveling through the City and we are proud to be able to assist in maintaining it.”
The dumpster area beside the Seldon House has remained quite tidy since the corporation paid a resident $40 to clean it up. Only the flat-tired, plateless red truck remains. Mr. Mundle told me they are buying better surveillance cameras, because the Owen Sound Police were unable to identify “drive through dumpers” from the footage they had.
Given the times in which we live and the City budget, perhaps there are better uses of police time than chasing 
down those who leave their garbage on privately-owned property. The pair that vandalized the rainbow crosswalk in full view of city-installed cameras ten months ago have yet to be identified, so there might be other solutions for Mr. Mundle. Owners of other dumpsters in town have said that keeping them closed and emptied regularly, and sending staff promptly to deal with any mess, makes them less of a target. “Garbage attracts garbage”. Other owners have surrounded their dumpsters with enclosures that are more attractive and less convenient to dumpers.
We did not discuss the future of the building itself, or its residents. At the time of the purchase last February, BG Wealth CEO Craig Dunkerley told the Sun Times the Seldon House provided “short-term rentals for individuals who need affordable housing and we recognize that as a need in the town”. Jakob Harvey, director of acquisitions and business growth, said “In the near future, we do not have plans to substantially increase the rents because we recognize it’s a different group of people in the Coach and it’s really serving the community of Owen Sound. So, no, we have no immediate plans for a rent increase.”
Mr. Mundle offered to arrange an interview with representatives of the corporation for an up-date, but that has not happened to date.
Looking at other properties that BG Wealth has acquired in Owen Sound's downtown, their website lists two. 261-281 9th Street East has 9 residential units above the storefronts. "At the time of acquisition, one-bedroom residential units were renting anywhere from $550-$800 per month, and the two-bedroom unit was being rented for $700/month. Through our value-add program, BG has been able to dramatically improve the condition of these units while successfully increasing rents on one-bedroom units to $1,300 per month, and $1,400 per month for the two-bedroom unit."
950-956 2nd Avenue East, above Kokoro and Fire and Bricks, had 5 vacant gutted apartments when it was aquired by BG. It is also listed as the corporate offices of Blackthorn Mortgages. “In March 2021 BG Wealth Properties partnered with a Toronto based institutional lender and secured funding to renovate all residential units. Given the shortage of high-end vacation rentals in the City of Owen Sound, BG has converted all 6 units to short term vacation rentals which will launch at the end of 2021. Fully rented, the building carries a value of $1.6 Million based on typical short term rental rates of the area.”
As of today the renovation in that space continues, and there is no signage to suggest that it is a vacation rental property yet.
