Concord Development confirms plans for newly purchased Molson lands in Vancouver

Apr 12, 2016 | 12:43 PM

VANCOUVER — Property developer Concord Pacific is the new owner of a prime piece of real estate on the south side of Vancouver’s False Creek, but its plans for the land may run into zoning trouble.

In a release, Concord Pacific senior vice-president Peter Webb confirms the purchase of the Molson Coors (TSX:TAP.A) brewery lands has been finalized, while media reports list the price as $185 million.

Webb says Molson will lease back the property while it builds a new brewery elsewhere in the Vancouver area.

The release from Webb does not mention condo construction, but says Concord will use that time to work with the community, city and regional officials on plans for a mixed-use development on the three hectare parcel.