The Town of Qualicum Beach is poised to replenish its financial reserves, used to purchase properties including the St. Andrews Waterfront Park.
In 2018, the town bought the 1.6-acre St Andrews property located on the Island Highway, with more than 70 metres of waterfront for $3.4 million. To finance the major investment, council initiated the sale of other town-owned lands of lesser community significance.
The town is close to completing all current land purchase and sale agreements that will restore its reserves to a financially sound level.
Completed land sales include: 504 Juniper Rd.; 126, 130, 134 Second Ave. East; 324 Chester Rd.; Yew Street Road Closure; 478 Timberlane Pl.; and 484 Timberlane Pl.
Land sales currently under contract include: 189 Sunningdale Rd.; Portion of Fern Road/Memorial Avenue Bus Garage Property; and two residential lots at Claymore Road and West Ridge Way
“Being able to rebuild town reserves and to secure strategic land such as the former St. Andrews Waterfront Park makes us very proud,” said Mayor Brian Wiese. “The previous council handed us the baton for this project, and we were able to take it across the finish line. We can go forward confidently knowing that we are fiscally secure, and richer with community assets.”
— NEWS Staff, submitted