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Imperial Oil has sold its 232-acre property in Port Moody and Anmore to a Vancouver-based company called Brilliant Circle Group (BCG), The Tri-City News has learned.

The sale became official last week, nearly two years after Imperial Oil put the property up for grabs as one of the largest prime real estate development opportunities in Metro Vancouver.

The undeveloped land — 150 acres in Anmore and 82 in PoMo, including the historic Ioco townsite — sits on the eastern side of Imperial Oil’s 600-acre holdings in the area.

“We’re starting with a blank piece of paper, we’re not coming in with any preconceived ideas,” said architect James Cheng, renowned as one of Vancouver’s leading residential tower designers. Cheng is representing Vancouver-based BCG and said the company’s principal, who asked that his name not be used, is a Canadian citizen with residences both here and in Hong Kong.

BCG is well aware of the environmental, heritage and bylaw restrictions on the land, Cheng said, but the property was too enticing to resist, adding that the group has purchased chunks of land in Metro Vancouver before but nothing on this scale.

Read more: http://www.tricitynews.com/news/288464921.html

1865-1895 Charles Street Brochure

There was standing room only at Inlet Theatre Wednesday as more than 300 people flooded Port Moody council chambers to throw bouquets and brickbats to council for the city’s draft official community plan.

Dozens called for the preservation of the ocean waterfront instead of towers while others lauded higher density proposed along the Evergreen Line route. Several people suggested the city purchase the Mill and Timber site — currently an operating mill with about 80 employees — and use it for park space.

“We will lose what we value most, namely the small-town feel, charm and ambiance,” said Reiner Specht, who has formed an ad-hoc group called Port Moody Citizens’ Coalition to oppose the OCP changes. “A lot of people don’t want skyscrapers,” said Ron Simpson. “Let’s see growth on a human scale.”

Rod MacVicar, the city’s 2012 environment award winner for his work promoting marine research on the inlet, said the city could get a good deal if it bought the Mill and Timber property. “We are losing an opportunity to pick up this site and do something with it,” he said.

Others said the city will benefit from higher density because it would preserve greenspace while adding more services close to people’s homes.

Read more: http://www.tricitynews.com/news/233777201.html

Based upon the most recent statistics from the Real Estate Board of Greater Vancouver’s Home Price Index, benchmark prices in Port Moody have shown gains in the past six months after a relatively flat 2012.