WATCH: Old transit depot on prime Vancouver real estate could soon be for sale
More than two months after Vancouver city council approved massive re-development plans for Oakridge Mall, area residents are now being asked to consider the future of an adjacent site.
Once an army barracks, the Oakridge Transit Centre which covers 14 acres of prime real estate from 37th to 41st and from Willow to Oak Street. The property has been owned by Translink since 1948.
The land is zoned single family and is currently being used as a transit operations and maintenance facility, but it’s no longer needed and the land will likely be sold.
An open house was held at Van Dusen Gardens today for residents who want more information.
The City of Vancouver has already approved a controversial massive development near Oakridge center that will see 14 new high rises built ranging from 9 to 44 storeys high.
It’s something residents fear could happen here. The property was last assessed at $72 million but in 2012, Translink thought it could make $220 million by selling it.
The sale could go a long way to offset the transit authority’s ballooning costs.
The planning process is expected to last for about a year.
— with files from Darlene Heidemann