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

More funding for Harrison tourism projects on the horizon

Village could see increased funding by 2020

Most cows saved during massive fire on Agassiz farm thanks to fast work of farmers, neighbours

Agassiz Fire Department responded to late night call Wednesday

Risk of thunderstorm this afternoon for Vancouver Island and Lower Mainland

A special weather statement calls for heavy rain and wind over the next 48 hours

Chilliwack steps up to the plate and brings music and dance Provicials to town to prevent lag

Sponsors are needed to help knock the 2019 Provincials out of the park

Massive fire destroys Agassiz dairy barn

Reports say at least one cow died in the blaze

Environment Canada confirms Ottawa area hit by two tornadoes Friday

At one point more than 200,000 hydro customers were blacked out

Whitecaps see playoff dreams fade after 2-1 loss to FC Dallas

Goal in 87th minute seals Vancouver’s fate

Porsche impounded for going 138 km/hr in 90 zone during charity rally

West Vancouver Police said wet roads and heavy rain made it extra dangerous

B.C. students send books to displaced students of Hornby Island school fire

Maple Ridge elementary school teacher says students learned about acts of kindness

Phase 2 of $1.35B Royal Columbian upgrades won’t be a public-private partnership

B.C. Health Minister Adrian Dix says it will be a design-build

Trump drains oxygen from Trudeau foreign policy with PM, Freeland bound for UN

A lot has changed since the Liberals came to power in Canada in 2015

B.C. man fined $15,000, barred from trading securities for fraud

Larry Keith Davis used money from an investor to pay personal bills

Emergency crews investigate small sulphuric acid spill in Kootenays

IRM states a small volume of less than one cup and three dime-sized drips were leaked from carrier

Most Read