The City of Nanaimo will sell land to facilitate private development in central Nanaimo.
The City of Nanaimo announced today (June 2) it will sell 1.02 hectares for a redevelopment project at the former Madill factory on Labieux Road.
Council made a decision to sell lands adjacent to the Madill property and see them consolidated with the site in April, during an in-camera meeting. Council will be asked to provide formal approval of the sale June 13.
Madill went into receivership in 2010 and the land and buildings were purchased by Bowen Road Developments Ltd. The new owner plans to demolish the Madill building and redevelop the site to include auto service and sales, commercial and residential development opportunities, according to a city press release.
The city lands are currently leased to the B.C. SPCA and Bowen Road Developments. The city release says completion of the new SPCA facility on Westwood Road and subsequent relocation of its operations enables the entire property to be redeveloped.
The land was assessed at $1.3 million by a professional appraiser hired by the city. Redevelopment of the lands will require an amendment to the Official Community Plan, rezoning, subdivision and works and services.
A comprehensive development plan will be presented to council at a future date.