The owner of the vacant Fifth Street lot once inhabited by the Palace Theatre has declined a proposal from Courtenay council to upgrade and/or provide access to the property.
The owner, who lives in Hong Kong, intends to sell the property at 397 Fifth St.
The theatre burned to the ground in 2007.
"Since then, the vacant lot has been described as an eyesore and as a deterrent for further economic development within the downtown core," Mayor Larry Jangula states in a letter to First Nations Enterprises in Vancouver.
Jangula feels the proposal could expedite the sale of the property.