A land swap that would have brought development to the Albion flats will not proceed.
The City of Maple Ridge announced Tuesday that negotiations with SmartCentres, a mall developer with tenants such as Walmart, have halted, to the disappointment of new mayor Nicole Read.
SmartCentres first proposed a deal in 2012 to trade 19.2 acres of land it owns on the north side of 105 Avenue for approximately 13 acres of city-owned land on the south side of 105 Ave.
In a draft proposal endorsed by both sides last summer, SmartCentres would rebuild the agricultural fairgrounds on the land it was to acquire.
SmartCentres was to also pay $900,000 to the city, meet Agricultural Land Commission conditions, and retain the option to purchase up to three quarters of an acre more property from Maple Ridge, south of Planet Ice. But in December, SmartCentres sent a letter to the city indicating that the financial part of the deal no longer worked for it and its business partners.
We’re not sure what changed.
But going back to November’s municipal election, Read, during her campaign, questioned the cost of the ongoing negotiations with SmartCentres and how developing the flats would affect the downtown.
Former mayor Ernie Daykin disagreed and said SmartCentres was paying both legal and consulting costs. He also said potential remained for light industry and recreational use in the flats if the SmartCentres deal fell through.
And now it has.
Read said Tuesday that council remains committed to exploring the potential for commercial development in the Albion area and has asked staff to prepare a report that will outline the options available there, including potential for an exclusion application to the ALC for city land south of 105 Ave.
Would the city then sell that land to a developer?
That was the idea when it bought the six lots in downtown Maple Ridge, which remain vacant.
Commercial development in Maple Ridge has remained stagnant for far too long. Development of residential apartments in the downtown area has been booming in recent years, and now the value of those is dropping, according to B.C. Assessment.
Could that be due to lack of demand?
Other than affordability, Maple Ridge offers much less than most Metro municipalities. All have parks and trails.
Residents of Maple Ridge want more. Introducing competition to the market might get that started.
– Maple Ridge-Pitt Meadows News