The old IXL canning facility in Beauty Point has been demolished to make way for a new development by Mendelssohn Construction, after being left dormant and rundown for years.
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The iconic site was acquired by the construction company in February of this year, and underwent several months of asbestos removal before the building could be taken down.
Company director Trent Mendelssohn said although many in the community had a connection to the historical value of the building, the development would make way for future opportunities for the town.
"It hasn't really had any use in the last decade other than general storage for the previous owner," Mr Mendelssohn said.
"I think it's really exciting - a beautiful new development in Beauty Point will hopefully spark interest and generate more growth going forward."
The developer plans to submit a development application to the West Tamar Council to subdivide the lot into three blocks of land.
Although plans have yet to be confirmed, Mr Mendelssohn said it may be converted into several three bedroom, two bathroom "beach-style" houses.
"So many people in the local area have worked here, and their parents worked here or their grandparents, and so forth, so it's got a lot of connections to the community," he said.
"A lot of people are sad to see it go, but at the same time it's making way for the future opportunity of Beauty Point."
West Tamar Council mayor Christina Holmdahl said the well known building had attracted other developers in the past who ultimately abandoned their plans due to costs involved in restoring the building.
"It's a pity that it was a landmark when you drive into Beauty Point," Cr Holmdahl said.
"But as happens quite often with old buildings, they do fall into disrepair and then it becomes a financially unviable proposition to continue with restoration."
She said the "substantial size" of the land would lend itself to development, but she was unaware of what the owners aims were for the site.
Mr Mendelssohn said some residents had asked to walk through the site before it was demolished, but once the asbestos was removed the building had become too unstable to be entered safely.
And despite being cleared of all the IXL relics from the past by previous tenants and owners, he estimated the clean up of the site would take about four weeks.
He said crews would ensure noise and traffic would be kept to a minimum for residents.
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