A new Vancouver restaurant is opening at Coal Harbour.

The Vancouver park board has approved the proposal of the Sequoia Company of Restaurants Inc. and McDougall Holdings Ltd. to build and operate a two-storey dining spot at the eastern edge of Harbour Green Park.

The partners were granted at a board meeting Monday (November 16) a lease of 10 years, with two additional 10-year extensions.

The restaurant operators will pay the city a basic rent of $200,000 per year, plus a variable percentage of revenues.

The Sequoia Company runs restaurants in two city parks: Seasons in the Park at Queen Elizabeth Park,  and The Teahouse at Stanley Park. Its other restaurants are The Sandbar, and Cardero’s.

McDougall Holdings runs the Harbour Air Seaplanes. It also operates the Flying Beaver Bar and Grill in Richmond, and the Flying Otter Grill in Victoria.

A staff report recalled that the board approved in May 2006 a concession strategy study, which recommended a new restaurant at Harbour Green Park.