In a blockbuster real estate deal, Concord Pacific has bought the Molson Coors brewery lands in Vancouver.
The deal is worth $185 million and the plan is to build a mixed-use residential neighbourhood with a “knowledge-based work centre” aimed at attracting tech firms.
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Right now, the property is zoned for industrial use only.
Concord Pacific will have to go to the City of Vancouver for a re-zoning application.
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In the meantime, the company says it will lease the land back to Molson while a new brewery is built.
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