Tuesday, April 12, 2016

Molson brewery site in Kitsilano has a new owner [Concord Pacific]

Molson brewery site in Kitsilano has a new owner


Molson brewery site in Kitsilano has a new owner

The iconic Molson brewery site has been sold.

Photograph by: Mark van Manen , PNG

The mystery is solved: Developer [Chinese owned -Concord Pacific] has reportedly bought the Molson brewery property at the south end of the Burrard Bridge and plans to turn the site into a mixed-use residential neighbourhood.
According to an article in The Globe and Mail Tuesday, the purchase price was $185 million and the deal closed on March 31. 
Last November, Postmedia News reported Molson Coors had found a buyer for the site had been sold, but the company would not name the new owner or the price paid for the property.
A statement released by the company says Molson will lease back the brewery until it builds a new facility.
“In the meantime, Concord plans to work with the approving authorities and the public to create a new community,” according to the statement provided to The Globe on Monday.
The three-hectare site is zoned for industrial use. In January, city officials told The Province that it is “protected” as it is considered important for long-term job creation in the region. The city also said Metro Vancouver would have to approve a residential rezoning before Vancouver could approve rezoning through a public hearing.
“Last year, Molson spoke to us before they tried to sell it, about (rezoning) potential, and we gave the same answer,” Vancouver’s assistant planning director Kent Munro said in January. “It’s in Metro Vancouver’s regional context statement, and the City … don’t have any plans to change it.”