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

Gas prices in Metro Vancouver to drop six cents

But a ‘volatile’ market could lead to increases in the coming weeks

Chilliwack Cultural Centre seeks artists who work in a large format

Deadline Nov. 22 to submit work for Cultural Centre lobby display

Raise your spirits with the 44th annual Chilliwack Christmas Craft Market

The artsy festive market runs Nov. 16 to 18 at Chilliwack Heritage Park

WATCH: Today, we remember: community members visit Agassiz cenotaph on Remembrance Day

Royal Canadian Legion members, veterans, first responders, residents gather to pay their respects

People flocking to Vancouver Island city to see hundreds of sea lions

Each year the combination of Steller and California sea lions take over Cowichan Bay

No charges against cop accused of stuffing money into sock during search

BC Prosecution Service says not enough evidence against Abbotsford officer

Many child killers have been placed in Indigenous healing lodges according to stats

As of mid-September, there were 11 offenders in healing lodges who had been convicted of first- or second-degree murder of a minor

Sex-misconduct survey excludes vulnerable military members: Survivors’ group

But It’s Just 700 says recent research has shown young military members and those on training are among those most at risk for sexual violence

Threat of extremism posed by proportional representation overstated: academics

As B.C. voters decide on electoral reform, the Vote No side is cautioning that the system would allow extremists to be elected

What now for Calgary, Canada and Olympic Games after 2026 rejection?

Calgary, along with the 2010 Winter Games in Vancouver and Whistler, B.C., made Canada a player in the international sport community

Expect no quick end to Canada-wide cannabis shortages, producers warn

Provinces including British Columbia, Alberta have all reported varying degrees of shortages

‘Scrap-metal sweetie’ makes Langley centrefold

Most pictures in Langley’s 2019 firefighters’ calendar feature members with their own pets.

Want to buy your first home? Move to Kamloops or Prince George

Kamloops, Prince George, Campbell River and Langford are the only other markets in the study without gaps between required and actual income in owning a home.

Most Read