Coun. Scott Nelson said the owner of the former Jackpine Forest Products site upped the price to $9.9 million after an investor made an offer of $5.3 million. Monica Lamb-Yorski photo

Potential fizzles for cannabis facility at former Jackpine site in Williams Lake

The owner of the former Jackpine Forests Products site has upped the asking price by almost $4 million after a $5.3 million offer, Coun. Scott Nelson said

Chances the former Jackpine Forest Products site in Williams Lake could become a federally-regulated cannabis facility may have gone up in smoke after the owner upped the price, City Coun. Scott Nelson said Tuesday.

“An offer was made today in excess of $5 million for the site,” Nelson told council during its regular meeting. “That offer is still standing, but the Jackpine owner doubled the price today to $9.9 million.”

Nelson said the “unfortunate” thing is that Williams Lake has carried outstanding taxes on the Jackpine property for several years, up until a payment was finally made last June.

Mayor Walt Cobb echoed Nelson’s disappointment saying he thought the property owner had made a “huge mistake.”

“Two years ago when we were at UBCM we met with the owners of the day and the price of the building was under $3 million,” he recalled. “We put in an offer at that time because we had some people interested in it and we had 60 days, but that deal never came together.”

Cobb said the City asked for an extension, but the owners refused, and immediately upped to price to more than $4 million, and shortly after that the price went to $6 million.

“This is not the Lower Mainland, where you can double the price every two weeks,” Cobb insisted. “This could be the last opportunity for quite some time. This is 178 acres that we have sitting there. They’ve come close to being up for tax sale and been in arrears and now they’ve turned down an offer.”

Coun. Ivan Bonnell, joining the council meeting by phone, said “that is the free enterprise system.”

Replying he understood Bonnell’s comment, Cobb said he still wanted to reiterate his disappointment.

Nelson told the Tribune Wednesday he intends to continue updating the community about potential investments in an effort to keep council’s transactions “open and transparent.”

“Fortunately, there are several local guys in town in the industrial area that have opened up their lands for potential cannabis investment as well,” Nelson noted, adding while he thought Jackpine was the top site, city council will continue to market other key locations.

Another offer has been made on a different piece of property, and four key groups are looking inside the city limits, as well as at the airport, he confirmed.

“We’re looking at all our options,” Cobb said.

BC Assessment lists two property values as of July 1, 2017 for the 4400 Mackenzie Avenue North site. One value is for $2,075,000 and an additional property value is for $346,000.

Read More: Cannabis industry investors explore Williams Lake

Read More: Williams Lake opens doors to cannabis industry

Like us on Facebook and follow us on Twitter

We are hoping to contact the property owner for comments.

Just Posted

CRD issues evacuation order for Dean River North and Ulkatcho First Nation

The order includes 57 properties in the CRD and five properties on Ulkatcho First Nation

VIDEO, PHOTO GALLERY: Williams Lake’s Thunder Mountain Speedway pays tribute with Doug Larson Memorial Race

Doug Larson was every kid’s hero, said professional auto racer Trevor Seibert

Lakecity residents encouraged to fill out economic development strategy survey

Strategy to identify priority opportunities for the region, and ways to support businesses

Fraser River protectors enjoy Scout Island hospitality

Scout Island welcomed a capacity crowd Monday when Fraser River adventurers stopped by for dinner.

Three new fires yesterday in Cariboo Fire Centre: Aug. 16 update

Up-to-date information about wildfires, evacuation orders and alerts in the Cariboo Fire Centre

B.C. wildfires 2018: Hazy skies impacting crews in spotting new fires

18,000 people are on an evacuation alert, with 3,000 homes under an evacuation order

Minister optimistic after 2 days of Columbia River Treaty negotiations

Canadian and U.S. officials met in Nelson Wednesday and Thursday to discuss future of the treaty

Man dies in B.C. police cell while awaiting court hearing

An independent investigation is underway after a man died while in Penticton police custody Aug. 16

RCMP appeal for tips, dashcam footage in German tourist shooting west of Calgary

The Durango crashed into the ditch after the shooting near the Goodstoney Rodeo Centre

2 nurses attacked at B.C. psych hospital, union calls for in-unit security

PHSA says that in-unit guards would do more harm than good

Former B.C. optician won’t be jailed for sexually assaulting minor

Kenneth Pilkington sentenced to 24 months’ probation for offence three decades ago

Red Cross now accepting donations for those impacted by B.C. wildfires

The Canadian Red Cross is asking for help now and in the weeks and months ahead.

B.C. program to educate parents reduces ‘shaken baby syndrome’ by 35%

Period of PURPLE Crying was launched nearly a decade ago

B.C. golfer, just 23, scores the rare albatross

Six-million-to-one shot a first for the Terrace club

Most Read