TransLink completes sale of Oakridge Transit Centre lands for $440 million

Fourteen acres of prime Vancouver real estate sold to developer to help pay for better transit and transportation

Translink has completed the sale of the Oakridge Transit Centre lands in Vancouver to a developer for $440 million.

In a news release Tuesday, the transit authority billed it as “one of the largest real estate transactions in B.C.’s history.”

The 13.8-acre site at West 41 Avenue and Oak Street was sold to Intergulf-Modern Green Development.  Payments are to be completed by 2022.

The funds will help TransLink pay its share of the $2-billion first phase of the Metro Vancouver mayors’ 10-year plan to improve regional transit with more buses, SkyTrains and West Coast Express cars.

“The proceeds from this property sale will provide additional regional funding for the Broadway and Surrey rapid transit projects,” said TransLink CEO Kevin Desmond. “It helps maintain momentum of the 10-year vision and will provide additional regional resources to help match anticipated federal and provincial funding.”

Operations were moved from Oakridge to the Hamilton and Burnaby transit centres in September.

Just Posted

Surrey Mountie won’t face charges for scooter scuffle

The Surrey-based IIO has decided not to forward the case to Crown counsel for review

High-risk sex offender released into Surrey

Earon Wayne Giles, a Newton “tag-team rapist,” was released from prison Friday and is now living in Surrey

Pedestrian seriously injured in Surrey traffic crash

A 54-year-old man was hit by a car early Thursday evening while crossing Highway 10 at 152nd Street

VIDEO: Nature provides practice space for North Delta musician

Terry Lee has become a fixture over the years playing his cornet in and near the Delta Nature Reserve

UPDATE: Surrey RCMP say body found after fire at Whalley homeless camp

Police say the body was found inside a shed after firefighters extinguished a blaze

New airline regulations bring compensation for tarmac delays, over-bookings

Some of the new regulations will roll out in July, while others are expected for December.

Burnaby facility to dispose of 1,500 tonnes of Canada’s trash from Philippines

All 103 containers will be disposed of properly within Canada before the end of the summer

Scheer says it would take Conservatives five years to balance budget

Scheeraccused the Liberal government of spending $79.5 billion of previously unbudgeted funds

Man wants guilty plea revoked in 2012 collision in Abbotsford that killed Chilliwack woman

Michael Larocque was charged in relation to crash that killed Eileen Kleinfelder

Vancouver woman sexually assaulted after man follows her home; suspect at large

Police are looking for an Asian man in his 40s after the incident on Vancouver’s east side.

B.C. man, 30, arrested for driving his parents’ cars while impaired twice in one day

The Vancouver-area man was arrested after officers caught him driving impaired twice in one day

UPDATE: Vancouver man dies after crash between motorcycle, transport truck

Police believe speed was a factor in Thursday collision

Trial slated to start Monday for accused killer of Abbotsford cop

Oscar Arfmann faces first-degree murder for death of Const. John Davidson

RCMP probe hit-and-run of Richmond senior

The man, who is in his mid-70s, was walking with his wife when he was allegedly struck

Most Read