The land near the intersection of Kings Road and Richmond Avenue.
The District of Saanich is hoping to scoop up more than five acres of green space that’s up for sale in the municipality and they are asking for the community’s help to buy it.
The land, which is near the intersection of Kings Road and Richmond Avenue, has been owned by BC Hydro since 1958. As part of its disposition process, BC Hydro first offered the land to the provincial government, Crown agencies and local First Nations.
For a price tag of $5.5 million, the District of Saanich has entered into a conditional agreement with BC Hydro to purchase the piece of land. To cover the cost of the purchase, Saanich is considering a financial plan amendment to establish borrowing of approximately $4 million toward the purchase price. The payments for this loan are provided for within the existing debt servicing budget. The other $1.5 million will come from reserve funds.
The municipality is now asking for help from local governments, community associations, organizations and residents to raise $2.75 million to keep the property as a whole. The district says if that money isn’t raised, some of the land will have to be portioned off and sold.
The municipality hasn’t yet decided if the land would remain a park or be developed. The parcel is 2.23 hectares and consists of three addresses: 1843 and 1845 Kings Roads and 2661 Richmond Road. The site is undeveloped, with the exception of one uninhabited single-family dwelling, and is covered with grass, trees and shrubs. Bowker Creek runs along the southwest boundary of the site.
The district expects to take possession in late summer or early fall.
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