Molson Coors brewery sale: 5 things you should know

For nearly 60 years, the Molson Coors brewery in Vancouver has made its mark on the neighbourhood of Kitsilano. Located on the south side of the Burrard Bridge, it has employed locals and pumped out countless litres of beer.

On Thursday, Molson Coors announced it's sellingthe nearly threehectares of land to an undisclosed buyer and will be moving to an undisclosedlocation in B.C.

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As speculation about what might happen with the premium land runsrampant, here are a few facts about the brewery that arehelpful to know.

1. Premium spot with a premium price

Thebrewery was reportedly sold for close to $200 million. Itslocation is in choice Vancouver territory: close to the Seawall, neighbourhood amenities, and the downtown core. A prime place, some think, for new residences to be built But...

2. Zoned as industrial

The site is zoned as an industrial area, which means no condos or other residential propertiesunless the new owners make their case with the city and get it changed.

3. Regional growth strategy

Not only is it zoned as industrial, the City of Vancouver, along withother municipalities in the region, has signed on to the Regional Growth Strategy with the province, which includes not converting job-producing industrial land into condos.

So converting the land into condos would require approval from the region and the B.C. government.

4. Not a transit hub

The City of Vancouver does have a propensity for densification, butneighbourhoods like the Cambie Corridor that are aiming to achieve thatgoal are close to transit hubs like SkyTrain stations. The closest SkyTrain station to theMolson Coors brewery, however, is almost three kilometres away.

5. Pending Squamish development

The Squamish First Nation own the land adjacent to the brewery, and have said they intend to develop it into residential condo towers.

If they do, the city would have to consider how that development would affect nearby properties, and may possibly want to create a new neighbourhood la Olympic Village.