City Of Prince George Largest Land Owner In Downtown
By 250 News
Map shows property City owns in downtown Prince George
Prince George, B.C.- It is safe to say that with the purchase of the Prince George Hotel, the City of Prince George is now the largest land holder in the Downtown core.
According to the latest map, the city owns 155 lots ( shown in green) in the down town core. This number does not include the Civic Plaza, City Hall, The Swimming pool, Fire hall, Coliseum, library and other out buildings.
These properties follow roughly the same boundaries as the DBIA, and do not include property on Patricia Boulevard or any properties west of Vancouver St.
The City of Prince George paid $2.5 million dollars for the PG hotel and four adjacent lots. That works out to $ 312,500.00 for each lot. Four of the lots were used for parking by the PG hotel.
The price tag does not include the demolition of the building which experts peg at well over $200,000. It cost nearly $180 thousand for the clean up of the Columbus Hotel site, and most of that building had been taken down by fire before demolition crews started any work.
The assessed value of a lot used as a parking lot in the down town core held by private companies varies between $79,000 and $82,000 dollars per lot , that compares with $312,000 in the PG Hotel deal.
Previous Story - Next Story
Return to Home