Skip to content

Port Coquitlam reaps $2.7m from six lots

Port Coquitlam took in an extra $400,000 last week after selling six of its surplus lots to five buyers.
city
Port Coquitlam city hall.

Port Coquitlam took in an extra $400,000 last week after selling six of its surplus lots to five buyers.

The city had listed the McLean Avenue parcels for a total of $2.3 million but gained more than $2.7 million; it had held the vacant properties since the 1920s.

Proceeds from the sale will go into the city's land sales reserve fund, which — under the provincial Community Charter — must be used for capital infrastructure and future land acquisitions.

Last year, the city sold a 1.8-acre parcel, zoned for multi-family residential housing, at 2560 Pitt River Rd. for $5.4 million; it had been assessed at $3.68 million.

Another surplus city lot is expected to go on the market later this year, said Braden Hutchins, PoCo's corporate officer and lands manager.

jwarren@tricitynews.com