Simon Yu says motel site could be future site of new downtown arena, performing arts centre development
Why has the City of Prince George agreed to pay $4.15 million for the Knights Inn motel, which had an assessed value in July 2023 of only $1.211 million?
Mayor Simon Yu said having BC Housing provide incentives makes the purchase of 44-unit motel at 650 Dominion St. a wise investment, especially considering property values in the city have risen 20 per cent over the last year or two. BC Housing will continue to lease the building for two years, from March 31. 2024 to March 30, 2026 and will pay the $1.134 million cost of that two-year lease up front to the city. The remainder of the purchase price will come from the city’s Endowment Reserve Fund.
City planners are currently seeking public input to help develop the Civic Core District Plan, which focuses on the area surrounding the Prince George Conference and Civic Centre. The Knights Inn property sits on an adjacent block east of the Civic Centre and north of Kopar Memorial Arena in an area the city is considering as the potential site of a new downtown arena and performing arts centre.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Golden Knights and Bruins Lead NHL StandingsAfter one month of the 2023-24 National Hockey League season, the Golden Knights and Bruins have emerged as the top teams. The Golden Knights lead the league in points, while the Bruins excel in defense and goaltending. Meanwhile, the Sharks struggle with a winless record and poor performance in various aspects of the game.
Read more »
Province buys two downtown properties to convert to supportive housingFormer North Star Inn and Suites, as well as Lotus Hotel, to be renovated to provide 123 units for people experiencing homelessness
Read more »
IN PHOTOS: Halloween at Rideau HallGovernor General Mary Simon hands out candy on the grounds of Rideau Hall on Halloween in Ottawa, on Tuesday, Oct. 31, 2023.
Read more »
Senators to forfeit first-round pick as fallout from Dadonov tradeThe Ottawa Senators will forfeit a first-round pick as a result of punishment stemming from their 2021 trade that sent Evgenii Dadonov to the Vegas Golden Knights and subsequent, invalidated trade that would have sent the forward to the Anaheim Ducks in March 2022.
Read more »
In surprise public appearance, Céline Dion hangs out with the Habs at Vegas gameCanadian icon Céline Dion made a surprise appearance Monday night at a hockey game in Las Vegas to watch her hometown team take on the Golden Knights. It's one of her first public appearances since being diagnosed with a rare neurological disorder.
Read more »