City Purchases Property to Support Growth on the Waterfront
January 28, 2016
The City purchased the property at 1156 Vidal Street, White Rock. The property is adjacent to City-owned properties and also beside a City-owned small parking lot.
The City purchased the property for $1.4 million and the purchase has been funded from the Land Sale Reserve. The City had an independent appraisal of the property.
The property purchase will support Council’s strategic priority regarding parking options. Purchasing this property would allow the City to increase the capacity of a parking structure at this site by over 60 percent. The City previously highlighted that the current demand for parking exceeds available capacity, especially during peak tourist times on the waterfront. There is a widespread challenge to provide adequate spaces and accommodate visitors who invest in the local economy.Go to Top