Pitt Meadows Seniors Centre Not To Proceed

March 4, 2009

CITY OF PITT MEADOWS

Press release

FOR IMMEDIATE RELEASE
March 4, 2009 #2009-02
For further information, call
Mayor Don MacLean 604-465-2416

PITT MEADOWS SENIORS CENTRE NOT TO PROCEED

Pitt Meadows B. C . - The City of Pitt Meadows has announced that the seniors housing project, in the Civic Centre, will not be proceeding. In a statement from City Mayor MacLean the Pitt Meadows Council has decided to terminate the agreement with developer, Allegro Properties Inc. "The terms of the agreement with the developer have not been satisfied and the City has exercised its right to terminate" said Mayor MacLean. "The economic climate has impacted the project leading to delays and challenges."

The City remains hopeful that a project on the site will occur in the future. In the interim, the Mayor states "the City will be reviewing its options and will concentrate on other community facilities which are still proceeding as planned. These include the Spirit Square, the South Bonson Community Centre, a new library facility and other capital priorities.

Mayor MacLean added, "That while Pitt Meadows is a growing community, it is not immune from the economic turbulence that is occurring. With the opening of the Golden Ears bridge and the expanded Pitt River bridge later this year, the future continues to look bright for our community." Mayor MacLean added "While this project may have fallen victim to the volatility of the housing market, we are confident that Pitt Meadows will remain an attractive place for investment and development."

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Pitt Meadows Seniors Centre Not To Proceed

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