The District of Hope has sold 455 Coquihalla Street to a developer for $2.55 million.
Council met behind closed doors on May 2 to discuss the “disposition” of the property that has been the focus on much discussion for years.
The property has a long history of local interest. The District of Hope for purchased the 1.5 acre lot in 2017 as an investment. It was once a site for Imperial Oil, and following that it was the former Community Garden. The Standard reported at the time that council allocated $320,000 for the purchase, in addition to an undisclosed amount for a down payment.
They declassified the information from the May 2 closed (in-camera) meeting, to announced they sold the lot to Centrum Development Group for a multi-use development.
READ MORE: Hope council to mull over ‘disposition’ of 1.5-acre lot in closed meeting
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