The identity of the local company that bought a prime piece of real estate in 琉璃神社鈥檚 downtown core has been revealed.

The Mission Group, one of the city鈥檚 leading developers, says it is continuing to demonstrate its commitment to the city鈥檚 downtown area with the that used to house the former Bargain Shop.

The sale of the property, located at in the 500-block of Bernard across from the Towne Centre Mall, was announced Monday. The building has stood vacant since 2010.

The property spans an entire block between St. Paul Street and Bertram Street and includes an existing parking lot along St. Paul Street.

The price the company paid for the property was not made public but it was listed at $9.4 million.

The Mission Group said it wants to build on its existing momentum and demonstrate a commitment to the city鈥檚 evolving downtown area with the purchase. The company is currently developing a mixed-use, high-rise residential tower to be called , at the corner of Ellis Street and Lawrence Avenue.

No details of any development proposed for Bernard Avenue site were announced, but current zoning would allow for a mixed-use, residential development with a tower up to 26 storeys high.

鈥淭here are few opportunities to secure such a unique and important development property in 琉璃神社鈥檚 Bernard district,鈥� says Luke Turri, vice-president of development at the Mission Group.

The company says in the upcoming months, it plans to develop concept plans for the site and ensure they 鈥渃ontribute to the legacy of Mission Group and 琉璃神社鈥檚 emerging downtown area.鈥�