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City of Kamloops acquires Kamloops Daily News property

March 06, 2014 - 2:51 PM

The City of Kamloops has announced it will acquire the former Kamloops Daily News building and parking lot at 393 Seymour Street for future development of downtown parking infrastructure.

The cost of the transaction, which expected to complete at the end August this year, is $4.8 million, funded by parking revenues and reserves earmarked for parking infrastructure.

In the short-term, there will be no visual changes to the site, but the City will begin considering design concepts for future development.

“The Daily News site was an initial respondent to the Downtown Parking Expression of Interest and with the closure of their operation we have the opportunity to acquire the entire site. The central location makes it an excellent spot to add more parking to downtown,” commented Kamloops Mayor Peter Milobar.

News from © InfoTel News Ltd, 2014
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