District of North Vancouver has purchased a property in the Lynnmour area of the district.
DNV acquired the single-family property on Orwell Street for future road connection in order to improve circulation and mobility.
The purchase price was $1,480,000, said Courtenay Rannard, the communications coordinator for the district.
Rannard confirmed the purchase, but didn’t provide any details on how the DNV intends to use the property for road connection.
“At this time, I am unable to confirm details about any future road connection,” she said.
DNV’s financial plan also provides $25,000 to the Orwell Street neighbourhood bikeway project.
DNV purchases residential single-family properties for a number of municipal priorities, including expansion of green spaces, roadways and municipal buildings.
Until those uses are realised, the single-family homes are rented at current market rates.
In October, DNV council also approved a new policy that would give vacant district-owned homes to non-profit housing providers.
The district presents these homes at full-market rentals. The new policy will enable the non-profits to provide rentals at a lower, below-market rate.
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