As directed by mayor and council, City of Powell River’s purchase of two lots from Powell River Waterfront Development Corporation (PRWDC) was completed on Thursday, July 25.
Those parcels include 80 acres in what is formerly called the old golf course lands and 100 acres on the northern boundary of the municipality bordering Tla’amin Nation.
“The transfer of ownership has been completed,” said mayor Dave Formosa. “There is no better investment for our citizens than in land, and the completion of this deal provides a great opportunity for the future development of the city. I’m looking forward to engaging with residents to hear their ideas for the future of these valuable properties.”
At the outset, the former PRWDC parcels will not be available for sale until the city’s commitment to conducting a public consultation process on its future development is completed. No dates have been set for the start of the public participation process. The community engagement is part of the Official Community Plan refresh the city will be starting work on later in 2019 or 2020.
In March 2019, a deal was extinguished between PRWDC and Sino Bright Investments for the purchase of 10 acres of former golf course lands. Sino Bright had plans for the development of an international school. Following community feedback, council decided it was in the public interest to purchase and take 100 per cent control of the lands.
“There was a great deal of public discussion after the Sino Bright deal fell through; the sentiment from some citizens in the community was that they weren’t involved,” said Formosa. “This time, I assure those citizens they will have the opportunity to be heard. Now that we’ve bought these lands, there will be full public participation to help answer the question: what are we going to do with these properties?”
Cost of the purchase was $1,380,000, which is included in the city’s 2019 financial plan. To pay for the land, the city is borrowing $1.2 million from Municipal Finance Authority of BC, $68,961 from the land sale reserve and $173,794 from the parkland reserve.
In August 2018, the properties were appraised at $2.16 million.
PRWDC president Wayne Brewer said the announcement was the culmination of a very long process that started a decade and a half ago when Catalyst Paper Corporation let it be known it had surplus lands.
“Some of the people at the city got wind that there were foreign buyers interested in scooping the whole thing, the whole 800 acres, which was a huge swath of land in town,” said Brewer. “That’s when heads started getting put together with the Tla’amin and city types who said, ‘let’s not let it happen. Let’s be strategic here, go together, form a partnership and acquire it.’
“That’s what they did. The city bought in, Tla’amin bought in and Catalyst bought in. When Catalyst started going belly up, it was an amazing opportunity for the city and Tla’amin to get all of that land at a great price.”
Brewer said instead of being a third owner, for next to no money, PRWDC became half owners. He said Tla’amin got exactly what it wanted, with the large parcel of land near Gibsons Beach and the log sort in Townsite.
“We got a huge swath of land in town,” said Brewer. “We got that chunk that runs above the highway all the way from Millennium Park to behind Brooks Secondary School; we got the old golf course lands that run all the way from Haul Road, pretty well to the mill.”
There is also the parcel of land in the Wildwood area, added.
“I see it as the culmination of a lot of effort, a lot of patience,” said Brewer. “It was so worth it and I’m so happy. The city got it for roughly $800,000 less than it’s been appraised at.”
Brewer said PRWDC was able to transfer the property for what was owed at the Powell River Credit Union, so the debt has been paid.
“The city has some valuable land that they did not have to pay that much for,” he added, “so I’m really happy.”
Brewer said it can lay the foundation for some really progressive development for Powell River.
