There are plans to revive a historic district in downtown Windsor.

Local businessmen have purchased the old downtown fish market and loop building at the corner of Ferry and Chatham Streets.

Local developer Dino Maggio and his son Anthony, from Mid South Land Development Company, have partnered with the Cypher Systems Group to purchase the building for $1.6-million from Toronto investor Henry Tam.

Dino Maggio tells CTV Windsor they are ready to invest between $2-million and $3-million to renovate the building first built in 1912 and create not only retail space but also lofts.

“I remember this place when my wife and I were dating and we used to come to the fish market for dinner. It does bring back a lot of good memories” remembers Maggio.

“It's going to be great to act as a catalyst for other development and renovation of the downtown core” says Mayor Drew Dilkens, who also likes the fact the new owners are local.

The purchase still must be finalized before the new owners can apply for renovations.

But Maggio hopes to have the project done before school starts next September.

There is a lot of history to the 105-year-old building. It was a showroom for cars, a service garage, a furniture store and a thriving restaurant and bar before closing in 2015.

Maggio credits the city’s Community Improvement Plan, approved by council a month ago, as the catalyst to finalize the purchase.  

DWBIA Chair Larry Horwitz tells CTV News this is just one of many new plans for the downtown core.

“There will be a lot more developments like this in the next two three years” says Horwitz.