The City of New Westminster has sold a piece of land once proposed for a public plaza.
The city has sold 801 Columbia St. to First Capital Acquisition Corp, which owns the adjacent Shops at New West. A staff report states that the city sold the property for $1.95 million and anticipates a closing date in March.
According to the staff report, the Kyoto site is deemed to be surplus property. A review of the site determined it wasn’t needed for park, community or recreational facilities, civic facilities or infrastructure.
When negotiations to buy the Kyoto site at 801 Columbia St. didn't yield a purchases price acceptable to the city, the City of New Westminster took steps to expropriate the property. The city ultimately bought the property for $1.8 million in March 2008, a sale not requiring expropriation.
“Ownership of the property at 801 Columbia St. provides the city with options for the developing a of a public plaza and gateway to the downtown/waterfront,” stated a staff report presented to council in 2008. “ While, at this time, a site has not been chosen, it also provides a potential location for a future downtown multi-use civic facility…”
The city later purchased property across the street at 731 to 765 Columbia St. as the site for Anvil Centre, which is now under construction and set to open later this year. In 2011, the city’s advisory planning commission stated that a new hotel at the Kyoto site would be a benefit to the convention centre located within Anvil Centre.
A recent report to council about the vision for the Larco property on the waterfront indicated a hotel is now proposed for that property.
