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Nearly four decades have passed since Expo 86, yet the prime waterfront real estate along Northeast False Creek remains largely untouched. This situation has raised eyebrows, particularly among community members grappling with housing shortages. British Columbia’s Housing Minister, Ravi Kahlon, recently expressed his frustration, labeling the lack of development as “unacceptable.” The question on everyone’s mind is: why has this valuable land sat idle for so long?
The history of the land
After the 1986 world’s fair, Concord Pacific acquired the land from the province, envisioning a vibrant community. However, instead of bustling neighborhoods, the site has become a collection of parking lots, occasionally hosting events like Cirque du Soleil. This stagnation has become emblematic of the broader housing crisis in the region, where many residents are left wondering why a prominent parcel of land has not been transformed into homes.
Current proposals and challenges
Earlier this month, Concord Pacific unveiled an ambitious proposal known as “Concord Landing,” which aims to construct 12 towers housing approximately 5,000 homes. This plan includes a new 14-acre waterfront park and a reconfiguration of local streets to improve accessibility.
However, the success of this project hinges on the removal of the Georgia and Dunsmuir viaducts, a plan that has been stalled for a decade due to funding issues and bureaucratic hurdles.
The role of government and community
Minister Kahlon has indicated that the province is prepared to reassess the original agreements made in the 1988 land deal, hinting at potential legal action if necessary.
He emphasized the need for all stakeholders to collaborate on a viable plan that could kickstart development by year-end. With BC Housing stepping in to offer affordable housing options, the province seems eager to see progress. Yet, the reluctance to fund the viaduct removal poses a significant barrier.
Concord Pacific has pledged $110 million towards the demolition, with another developer contributing $100 million. However, the total estimated cost of $438 million (as of 2018) raises concerns about who will cover the remaining expenses. As the city grapples with these financial challenges, the community continues to voice its frustrations over the slow pace of development.
Ultimately, the future of Northeast False Creek hangs in the balance. With a pressing need for housing and a community eager for change, the time for action is now. The question remains: will the stakeholders come together to transform this prime real estate into a thriving neighborhood?
