New Westminster – New Westminster City Council has approved the purchase of a 600 metre section of the City’s waterfront for future public use. The purchase agreement was arrived at following negotiations between City staff and property owners that commenced in summer 2008.

“This truly is great news for our city and for all citizens of New Westminster,” said Mayor Wayne Wright. “For decades, our waterfront has been out of reach. With this purchase, we’re placing our waterfront back into public hands, for public use and enjoyment.”

The final purchase price of the former Westminster Pier site is $8 million. During negotiations, the City commissioned an environmental study of the property to determine mitigation required. Study results indicated that that city plans for the site will require $1.5 million in environmental remediation.

Earlier today, City Council passed a motion to borrow $10.5 million from the Municipal Financing Authority to facilitate the property purchase with repayment in full within 5 years. The City plans to recoup a portion through Development Cost Charges (DCCs) as new development occurs.

“New Westminster is celebrating our 150 th anniversary this year. I can’t think of a better present – not only for all of us today, but for our children and grandchildren in the future,” said Wright. “Soon, you’ll be able to stroll beside the mighty Fraser River, along the full length of New Westminster’s waterfront. This purchase delivers a public amenity that will also assist our important efforts to revitalize our historic downtown.”

New Westminster’s Official Community Plan outlines connectivity for public use from the City’s eastern border in Sapperton to its western border near the Queensborough Bridge. The City plans to continue efforts to secure additional waterfront sites as opportunities arise.

Development of the property will occur following a public consultation process. The City is seeking grant funding from the recently announced Build Canada Fund, a federal government program that provides up to two thirds of the costs involved in remediation and development of former brownfield sites.

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Contact:

Blair Fryer, Communications Manager
Tel: 604-527-4688
Email: bfryer@newwestcity.ca