FOR IMMEDIATE RELEASE
DATE:  March 10, 2004
MEDIA CONTACT: Colleen Rohde, Director of Economic and Strategic Development
TEL:  604-469-4505

PORT MOODY – City of Port Moody Council last night identified a site for a waterfront restaurant in Rocky Point Park. The site identified would be suitable for a 5,000 to 7,000 square foot restaurant and features spectacular water views of Burrard Inlet, Port Moody’s forested slopes and North Shore mountains. The City is expected to release the call for proposals document within the next three weeks.

The identification of a restaurant site in the park is part of City Council’s land management strategy. The strategy is designed to foster economic development and ensure the City’s land assets provide the highest financial value for the City’s long term financial benefit.

The idea for a restaurant in the Park was revived in September 2003 when Port Moody hosted an Invest in Port Moody forum. Over 200 developers, investors and financiers were invited to the forum at City Hall to learn more about the development and investment opportunities available in this fast growing municipality. The restaurant concept has drawn a significant amount of interest both from local restaurant operators and large regional chains.

The restaurant site will be offered on a long-term lease basis. Additional parking will be provided in the adjacent boat launch parking area. The restaurant investor will be asked to provide a public boardwalk as a community benefit. It is also hoped that the building will have a marine look that blends in the waterfront setting and the park’s highly popular pier.

The restaurant destination is also consistent with the City’s tourism strategy.

“The timing of this restaurant proposal couldn’t be better,” said Mayor Joe Trasolini. “We’re investing $3.3M in upgrading Rocky Point Park, $2M of which is grant funds from the federal government. This park serves the leisure and recreational needs for the entire region. With Port Moody the fastest growing municipality in the Lower Mainland, we expect that a fine dining restaurant on the waterfront will be highly successful.”