Concord Pacific coughs up

I went to a very informative meeting on Affordable Housing put on by Vision the other day — and you can expect a post on that soon.

But first…this story from Metro News says mega-developer Concord Pacific looks like it “might” make good its promise to build a park in False Creek.  They promised to in 1990, but this time it looks like it may go ahead.  

“This appears to lift the last stage of the process before a direct effort to build that park,” Coun. Geoff Meggs said, advocating the city move forward with the application.

The parkland has been tied up in legal agreements between developer Concord Pacific, the city and the province. It cannot be converted into a park until Concord develops the final package of its Expo lands, although an application has yet to be made for that “trigger” site.

Obviously, the park is still years away, but in the interim Concord will contribute $500,000 to an interim seawall, $808,850 to improvements under the Cambie Bridge north of Pacific Boulevard and $4.2 million to an enhanced paddling centre, according to the city.(emphasis mine)

The Dragon Boat Festival people have been waiting for a permanent home for years.  The Festival brings in a lot of money to the city in paddlers and partiers every year, so this could definitely be good news for them.

Also (drum roll, please)

It will also transfer a property worth $11.6 million in the Downtown Eastside to the city so the city can build affordable and social housing.

Whoa!  That is good news.  I will be following this story for sure.  Fingers crossed for increased social housing in that area.