The University of the Fraser Valley has purchased the former home of Finnegan’s Pub and the Phoenix Ballroom. Ben Lypka/Abbotsford News

UFV buys Finnegan’s building for nearly $10 million

University has short-term plan to repurpose site for offices and teaching space

The University of the Fraser Valley has bought the former home of Finnegan’s Pub and Phoenix Ballroom.

The university spent just under $10 million to buy the building and property, which is located on King Road, just to the west of Abbotsford Centre. The deal was completed at the start of August.

Craig Toews, UFV’s vice-president external, said the purchase price was determined following an independent assessment commissioned by the university.

Finnegan’s and Phoenix closed earlier this year, with the businesses’ owners – the Esposito family – writing on their Facebook page that an array of challenges had confronted them since opening in 2009 near the Abbotsford Centre and UFV. An earlier Finnegan’s location that began operation in 1987 had been destroyed by fire.

RELATED: Finnegan’s Pub and Phoenix Ballroom closing

Toews said the university doesn’t plan to operate a restaurant. Instead, with major renovations planned for two UFV buildings, the newly purchased site will be repurposed in the short-term for offices and teaching space.

“That’s the most immediate, urgent need,” he said.

Construction is expected to start in the fall, with a completion date eyed for the following spring.

The long-term plans for the site are still to be determined, Toews said. But the building, and its location, provides plenty of options.

“It’s a very strategic buy for the university’s point of view,” he said.

The city’s new U-District plan and UFV’s campus master plan envision a blurring of the interface between the university and city-administered lands. That will see mixed-use buildings created on the periphery of the university, and the Finnegan’s building, with its frontage along King Road, could play a role in that.

RELATED: Council gives final approval to UDistrict Plan

Paul Esposito Jr. said his family was pleased that the university will be taking over the building.

“We’re very excited to see how the property we’ve put so much blood, sweat and tears into will continue to benefit the community, both in the long-term and the short-term,” he said.


@ty_olsen
tolsen@abbynews.com

Like us on Facebook and follow us on Twitter.

Just Posted

Children of the Japanese Canadian internment return to Tashme, for museum expansion

A replica of a tar paper shack and education space part of Sunshine Valley Tashme Museum expansion

20-bed emergency shelter to open in Hope in October

Supportive housing also planned for two lots on Old Hope Princeton Way, adjacent to the shelter

Fraser River First Nations say they aren’t getting their share of sockeye

Shortage is a result of decisions made by DFO, not a shortage of sockeye, complaint says

PHOTOS: Japanese-Canadians who built Highway 3 forever remembered with Mile 9 sign

A lesser-known part of B.C. history is the 1,700 Japanese-Canadian men who built highways in WWII

Hope arm-wrestler turned track and field star wins five medals at 55+ Games

Seven medals total coming back to Hope from golf and track and field events

VIDEO: More cameras, police coming after Marissa Shen killed in Burnaby park

B.C. privacy watchdog worries that the cameras are a ‘slow creep’ to a surveillance state

Arborist killed by fallen tree at Maple Ridge Golf Course

Was working near the 9th tee box of the golf course.

Rattie scores 3 as Oilers blank Canucks 6-0

Vancouver slips to 1-5 in exhibition play

Veterans Affairs ordered to take second look before supporting vets’ relatives

Liberal government ordered officials to adopt a more critical eye

Dead B.C. motorcyclist was member of group that raced down mountain road

Some group members record their rides on Strathcona Parkway and post times to page

Indigenous athletes in spotlight at BC Sports Hall of Fame

New gallery to feature Carey Price, Kaila Mussel and Richard Peter

B.C. couple who went missing on flight from Edmonton named by family

Family released a statement Wednesday saying they’re still intent on finding the two-seater plane

Abbotsford raccoon dies from injuries suffered in a trap

Wildlife protection group offering $1,000 reward for information about incident

VIDEO: A close look at what you were breathing during the B.C. wildfire season

Electron microscope images show soot and tar particles generated by worst B.C. fire season

Most Read