The 370 acres on Burke Mountain that Wesbild snapped up last year as part of the provincial government's sale of surplus lands came in $43 million under the appraised value, the BC NDP revealed today in the legislature.
Opposition leader John Horgan told The Tri-City News immediately after the public disclosure on Tuesday his party uncovered the Coquitlam land sale results after appealing to the privacy commissioner when a Freedom of Information request had been mostly blacked out.
Horgan said the subsequent mediation process showed the provincial government hid the fact the land sold for $85 million despite it being independently assessed at $128 million a figure Citizens' Services Minister Amrik Virk said now appears to have been "overly aggressive."
Horgan said the appraiser's 137-page report also recommended the government keep the Burke land on the market for six to nine months. Instead, the deal with Wesbild a major BC Liberal Party donor closed in three months.
"They were driven by meeting their budgetary targets," Horgan said of the BC Liberals under Premier Christy Clark. "They wanted to sell before the end of the fiscal year."
According to the Tenures, Competitiveness and Innovation Division report received by the BC NDP, one parcel appraised at $5.6 million sold for $100,000; in another instance, a parcel valued at $17.5 million went for $6.9 million.
The Tri-Cities' two NDP MLAs also reacted strongly to the news today, calling the transaction a "fire sale."
"The concern is the province pretty much just gave it away," Coquitlam-Maillardville MLA Selina Robinson said. "They didn't protect a public asset. They left $43 million on the table."
Said Port Coquitlam MLA Mike Farnworth: "We all look across to see Burke Mountain, that deforested scar for housing, and now ask, 'Why sell it for less than the appraised value?'"
Still, Doug Horne, the BC Liberal MLA for Coquitlam-Burke Mountain, contended that at least one of the 14 parcels is unbuildable. "Quite frankly, putting any value to it is, I think, not right," he said.
Horne said Colliers International represented the government on the sale and gave advice. And while he believes the province could have made more money by selling the land piecemeal, Wesbild will build a complete neighbourhood much as it has done on Westwood Plateau, he said that meets the city of Coquitlam's vision.
"I think Burke Mountain is going to be a specular community as well," Horne said. "The fact is, we have a developer with deep pockets. The huge commitment to the community with Wesbild involved is going to make certain that happens."
Horgan responded: "When you're trying to encourage comprehensive development, that's not the province's responsibility, that's the developer's responsibility. And when you have $128 million in real estate, then you should get $128 million for it. The discount should be coming from someone else, not the province of B.C."
Horgan said his party plans to review every parcel sold by the provincial government since Premier Clark announced the sale of surplus Crown holdings.
Last year, the province put up 584 acres of land for sale on Burke; 370 acres were bought by Wesbild and the much of remainder (160 acres) was purchased in January by the city of Coquitlam, for $11 million.
Wesbild's spokesperson was unable to comment before The Tri-City News' deadline.
jwarren@tricitynews.com
@jwarrenTC
with files from Diane Strandberg and Tom Fletcher
