The University of the Fraser Valley has purchased the former home of Finnegan’s Pub and the Phoenix Ballroom. Ben Lypka/Abbotsford News

UFV buys Finnegan’s building for nearly $10 million

University has short-term plan to repurpose site for offices and teaching space

The University of the Fraser Valley has bought the former home of Finnegan’s Pub and Phoenix Ballroom.

The university spent just under $10 million to buy the building and property, which is located on King Road, just to the west of Abbotsford Centre. The deal was completed at the start of August.

Craig Toews, UFV’s vice-president external, said the purchase price was determined following an independent assessment commissioned by the university.

Finnegan’s and Phoenix closed earlier this year, with the businesses’ owners – the Esposito family – writing on their Facebook page that an array of challenges had confronted them since opening in 2009 near the Abbotsford Centre and UFV. An earlier Finnegan’s location that began operation in 1987 had been destroyed by fire.

RELATED: Finnegan’s Pub and Phoenix Ballroom closing

Toews said the university doesn’t plan to operate a restaurant. Instead, with major renovations planned for two UFV buildings, the newly purchased site will be repurposed in the short-term for offices and teaching space.

“That’s the most immediate, urgent need,” he said.

Construction is expected to start in the fall, with a completion date eyed for the following spring.

The long-term plans for the site are still to be determined, Toews said. But the building, and its location, provides plenty of options.

“It’s a very strategic buy for the university’s point of view,” he said.

The city’s new U-District plan and UFV’s campus master plan envision a blurring of the interface between the university and city-administered lands. That will see mixed-use buildings created on the periphery of the university, and the Finnegan’s building, with its frontage along King Road, could play a role in that.

RELATED: Council gives final approval to UDistrict Plan

Paul Esposito Jr. said his family was pleased that the university will be taking over the building.

“We’re very excited to see how the property we’ve put so much blood, sweat and tears into will continue to benefit the community, both in the long-term and the short-term,” he said.


@ty_olsen
tolsen@abbynews.com

Like us on Facebook and follow us on Twitter.

Just Posted

Campaign for terminally ill Langley boy nears goal

Fundraiser to send eight-year-old on a cruise with his family

VIDEO: Giants come back to earn 4-3 overtime victory

Playing in Spokane for the second consecutive night, the G-Men triumph put them 3-1 in the playoffs

Allegations of ‘undue dealings’ raise ire at air-quality hearing

Evidence continues in proceedings contesting emissions permit for South Surrey galvanizing plant

Two victims of Aldergrove deck collapse in ICU, several others still in hospital

Close relative Satwant Garcha makes daily trips to visit those injured at the wedding

Langley youth coach banned amid sexual harassment, bullying scandal: Water Polo Canada

Justin Mitchell can’t take part in Water Polo Canada events or clubs

VIDEO: Driver in bizarre hit-and-run at B.C. car dealership turns herself in

Police believe alcohol was a factor in incident causing estimated $15,000 in damages

B.C., Ottawa talk 50/50 split on abandoned bus-route service

B.C. has paid $2 million on a bus service for the northern part of the province

‘B.C. cannot wait for action’: Top doctor urges province to decriminalize illicit drugs

Dr. Bonnie Henry says current approach in ‘war on drugs’ has criminalized and stigmatized drug users

B.C. woman, 76, challenges alcohol-screening laws after failing to give breath sample

Norma McLeod was unable to provide a sample because of her medical conditions

New report on 2017 wildfires calls for better coordination with B.C. First Nations

Tsilhqot’in National Government documents 2017 disaster and lists 33 calls to action

Two victims of Aldergrove deck collapse in ICU, several others still in hospital

Close relative Satwant Garcha makes daily trips to visit those injured at the wedding

Wilson-Raybould: Feds want to just ‘manage the problem’ of Indigenous Peoples

Former federal justice minister speaks at First Nations Justice Council meeting in B.C.

Female real estate agents warned of suspicious man in Metro Vancouver

The man requests to see homes alone with the female agent, police say

Most Read