October 31, 1950
Victoria Sells Familiar Property
The city-owned Duck property shown above was sold for $50,000 yesterday by City Council to local contractor E.H. Pope. The property is located at southwest corner of Broad and Johnson Streets and includes the three-story building on the left and the two-story structure at right. It was learned property may be developed as retail store and parking building. Sale of property raises question of future accommodation for welfare department now located on it. City may build new health and welfare centre at corner of Cook and Pembroke Streets, adjacent to welfare centre being erected by Spencer Foundation.
City to Sell "Duck Property" To Lone Bidder for $50,000
Council last week advertised that bids were being accepted on the property which has proved to be more of a "forgotten child" than a "white elephant" since it reverted to the city for taxes early in the depression of the 1930s.
Only one bid was submitted and open by council during special session yesterday.
One of the terms of its acceptance by the city is that the purchaser will spend $40,000 to remodel the buildings on the property.
The sale will put the property back on the city tax roll, with the land presently assessed at $41,000 and improvements at $15,000.
It was learned that the building might be rebuilt for use both by retail stores and as a parking garage.
In addition to the money realized from the Duck property sale is $35,000 recently gained through sale of property to the B.C. Electric, and some $18,000 through sale of the old Yates Street works yard.
Edited by aastra, 05 November 2020 - 11:04 PM.