The recently announced purchase of White Rock’s Central Plaza shopping centre does not include the entire site, Peace Arch News has confirmed.
A spokesman for Landmark Premiere Properties clarified this week that “everything west of Westland Insurance… including the parking area behind the plaza” was included in the deal.
That means tenants including Shoppers Home Health, Scotiabank and the recently opened Nature’s Fare grocery store were not part of the sale.
Mitchell Evanish, whose family company Newmark Projects owns that portion of the site, said Tuesday that he did hear from one of his tenants who was “curious” about the purchase, after a news article appeared in PAN’s Aug. 10 edition under the headline Highrises on horizon for Central Plaza.
Landmark had announced in a news release dated Aug. 5 and sent Aug. 8 that it “has purchased the Central Plaza Shopping Centre at 15182 North Bluff Road, White Rock. The 162,000 square foot site is home to more than 14 retail and service businesses.”
The release describes the move as one that “reinforces our long-term commitment to White Rock,” but gave no indication only part of the site was affected.
Evanish said Newmark has no plans to sell.
“Routinely, we’re approached to sell it, but it’s not in the cards,” he said. “It’s a hold-onto. We’ve got some great tenants.”
Landmark’s acquisition also does not extend to the three-storey building on Foster Street, nor the buildings on Russell Avenue, Kirk Williams, director of media relations and communications for Pace Group Communications, told PAN by email.
Exactly what’s in store for the site remains to be seen, however, Landmark president and managing partner Ray Chen had stated in the release that “we’ll be looking at Central Plaza with an eye to adding value to the businesses in the shopping centre, and creating a residential community White Rock can be proud of.”
Landmark is currently designing and developing a 25-storey, three-tower luxury apartment/commercial project, planned for the 1500-block of Martin Street, that is expected to come before council this fall, and if approved, would be the tallest development in White Rock to date.
The release says Landmark “will propose a similar residential and commercial opportunity at Central Plaza.”