Fate of Orillia’s Meridian bank building hanging in the balance

Meridian Bank’s future is in limbo as the City of Orillia awaits engineering report following a devastating fire.

The owner of a long-standing building in Orillia’s downtown core will soon know if it must come down, after a devastating fire at a neighbouring building left it structurally unsafe.

An engineer report on the 73 Mississaga Street East building is expected to be returned in the coming weeks. That report will determine what repairs are needed, or if the building can even be repaired at all.

“As you can imagine, to repair a building of this nature, the consequence is quite costly,” said Greg Miller, Orillia’s Chief Building Official. “ I do understand the owner does wish to repair the building, so that’s currently what the work plan is right now.”

The city closed access to the building in the immediate aftermath of the Peter Street fire on Jan. 21.

Miller said if the report deemed the building to be beyond repair, the city would direct the owner to demolish it.

“It’s a very unfortunate situation and it’s also a very challenging situation because the wall is unstable,” Miller added. “Just because of the earthworks and just given the age of the building, it’s going to take a bit of time (to repair).”

The closure has left its long-time inhabitants without a home for months.

But Meridian’s fortune is set to change drastically later this month.

The credit union has secured a temporary location at 44 Mississaga Street East, located at the former National Bank location across the street.

“That location is perfect for us,” said Mark Ostland, Meridian’s Northeast District Vice President. “It’s a former bank branch, it has everything we need, including a vault. That’s critical for offering over the counter cash services, so we’re excited to be in this location.”

The branch is slated to open on March 31 and will operate as a full-service bank.

While Meridian said it’s fortunate to have found a temporary home so close to its previous building, the plan is still to move back into its original spot.

“There was a lot of water and smoke damage inside our location so for the most part, the inside would have to be completely demoed and rebuilt from scratch,” Ostland said.“ But our first choice would be to go back to the building, as long as everything allows us to go back and rebuild. But right now, given the location that we’re in, the sense of urgency of going back isn’t as great.”

Ostland added that the engineering report is expected to be brought back within two to three weeks. Repairs are expected to take several months at minimum.