City of Nanaimo Sells Gordon Street Property to US Company

June 21, 2017

NANAIMO – At the June 19, 2017 Special In Camera Meeting, Nanaimo City Council provided ‘Approval in Principle’ to sell the City-owned 100 Gordon Street property to PEG Development from Provo, Utah for $750,000.

The sale is subject to a 120-day due diligence period for PEG to complete their Development Permit and perform other environmental and geotechncial studies on the site.

Quick facts:

  1. In December 2016, the City of Nanaimo issued a Request for Offers for the City-owned property at 100 Gordon Street. Six offers were received by the closing date of January 27, 2017.
  2. Five of the proponents chose to present their projects to Council at a series of Special “In Camera” meetings on April 20, 2017, April 21, 2017 and May 8, 2017.
  3. The Request for Offers process has shown that there is considerable interest in the property and there are a number of feasible options for the site.
  4. Council selected PEG as the preferred proponent and directed staff to commence negotiations. Those negotiations are now complete and Council has provided approval in principle to the deal.
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