It is a critical piece of land that has been for sale for years.
Restaurateur Brent Davies of Vancouver’s Sequoia Company of Restaurants has partnered with local developer Doug Day to purchase two acres at 1400 Vancouver Street.
The former Westmana Development Corporation property was put up in a court-ordered sale in 2012.
“I reviewed the city plan and it is sort of all residential,” said Davies of the area surrounding the property.
“I can see they are developing on either side of that main strip, they are putting in more rental and more apartments, and I think that is going to be the key to keep the downtown going.”
Davies, who is responsible for Vancouver’s The Sand Bar Seafood Restaurant, The Tea House in Stanley Park and Cardero’s Restaurant in Coal Harbour, said a restaurant is possible for the site eventually, once the population increases.
“Not at this point, but I think down the road,” he said.
The deal on the property, which is currently used as an ad hoc parking lot adjacent to the Howe Sound Brew Pub, was official Jan. 4, according to Day.
“Right now people are sort of wandering through the property. There is a trail that Westmana built through there so the public are using it for free and customers of the brew pub are parking on the land for free,” said Day.
“The land is freehold clear title property and is currently zoned industrial, which affords us many uses by simply requesting a building permit.”
According to the district, Day will also have to get a development permit and may need to get a site alteration permit for the property.
Day and Davies bought the property for $1.75 million; it was originally put up for sale in 2012 for $3.28 million.
“I just did what I do when I see a good deal on a property,” Day said.
The parcel has 600 feet of waterfront as it includes part of Cattermole Slough, navigational water access and a dock, according to Day.
The property, Day said, is an essential entranceway to the newly sold Oceanfront development lands.
He is working with the district and would be looking to work with Newport Beach Developments, the Oceanfront Lands developer.
“We will be looking to do what is right for the community,” he said.
“There’s a road realignment that should logically go through that property, at least a corner of it.”
Mayor Patricia Heintzman said it is a very strategic piece of land.
“It creates that knuckle between the Oceanfront and the downtown, so it is critical,” she said.
“My understanding is… they’ll work with the developer of the Oceanfront and some of the land owners down in that area and the district, and create a nice seamless continuity between the Oceanfront and downtown. Obviously I am really hopeful they are going to do a great job.”
