Burnaby’s iconic milk plant on Lougheed Freeway was bought for a whopping $218 million.

The 20-acre industrial parcel, owned the Saputo Inc., may not appear “iconic” to you, however as somebody who grew up 5 minutes away, it’s fairly particular.

Again then, within the 1970s, I knew it as Dairyland. I keep in mind seeing all of the milk supply vehicles roll out and in each day. I used to like ready for the milk man to indicate up in our again alley and clomp up the backstairs to ship the chilly stuff.

READ  All owners in Hypothesis and Emptiness Tax areas should full declaration

The plant has equipped good jobs for individuals for many years. However now it’s leaving and I’m a bit of unhappy.

It’s a bit of our historical past – a bit of my historical past.

The dairy plant was bought for $218 million underneath a possible redevelopment plan. That deal closes within the first quarter of 2019. The client is the Peterson group, which is constructing the Sussex mission close to Metrotown. 

READ  Colombian cops smash international youngster intercourse slave ring

I’m assuming it is going to change into apartment towers, which is sensible as a result of it’s located proper subsequent to a SkyTrain station. The property subsequent door is owned by Polygon.

All the roles look to be shifting to a20-acre website on Kingsway Avenue in Port Coquitlam.

milk plant rendering
A rendering of what the Port Coquitlam Saputo plant will appear to be.

In accordance with the general public firm’s quarterly report ending March 31 — launched early June — it famous the $240-million mission in its three-year capital expenditure plan “to higher serve the market in Western Canada.”

READ  Canadian dollar slumps on gruesome GDP and sliding oil prices, Reports

Saputo is the most important cheese producer and main fluid milk and cream processor within the nation, distributing almost 232 million litres of product a yr in B.C. — with three-quarters of it going to places round Metro Vancouver.

  • With information from the Tri-Metropolis Information

LEAVE A REPLY

Please enter your comment!
Please enter your name here