The City of Nanaimo has entered into a land exchange agreement with Likem Investments and James Dunn to acquire 1.6 hectares of land through 17 titled lots between Departure Bay Road and James Street.
In exchange, the city is trading two city-owned single family homes on Rutherford Road which are of equal value.
The agreement will further protect Departure Bay Creek as a riparian area and natural park, and will add 1.4 hectares to the existing boundary of Woodstream Park.
Dunn said the deal was made to allow for future enjoyment of the park by all residents.
“We purchased the property 25 years ago because of its beauty and park-like feel,” said Dunn. “We had hoped to live there or have it as a place for our family. However, we are happy that it’s going for a bigger and better use – that is for the people of Nanaimo to enjoy for all time.”
Dunn, along with co-owner Bert King, said it would have been financially advantageous to develop the wooded lot, but see value in keeping it in its natural state.