More information today from Bob Mackin in Business In Vancouver about the sale of 38 acres at Jericho to three First Nations by the Provincial Gov’t. The source is a document presented to Squamish Band members on March 23, 2016.
The provincial government will pay $96 million to three First Nations for them to become the new owners of the Jericho Lands on Vancouver’s west side, according to a document obtained by Business in Vancouver.
The document, which was given to Squamish Nation band members at a March 23 community presentation, said the lands are valued at $480 million and the accommodation funds flowing from Victoria to the Squamish, Musqueam and Tsleil-Waututh would be split one-third each . . . .
. . . . At the March 23 meeting, Campbell told band members that, under the deal, the three nations will put up no cash. He said a seven-year vendor take-back mortgage arrangement with the provincial government would mean the accommodation payment would total roughly 30% of the $480 million.
The March 23 document warned band members that the acquisition could come under criticism from all corners: “West Point Grey Residents Association. Politicians of all stripes: municipal, provincial and federal.
“Low-income housing activists, environmentalists and other NGOs.
“It is important to note that many longtime Point Grey residents are affluent and have access to powerful lobbyists and the media.”
Whatever may come of the Jericho Lands, a r-o-w for rapid transit should be secured along the 8th Avenue frontage for extension of the Broadway Line out to UBC.
Indeed. If all things fail, we can always play the native guild card to secure funding !
With a “Jericho Station” the line would give a boost to the new development, and complement greater density in a mixed-use community. Of course, uplanders will SCREAM, but they can hardly argue this is a park-deficient area, so some considerable amount of development makes sense. This also helps westsiders in unsuitably large housing find places to move into without leaving their treasured Point Grey community, and greater scale will enable inclusion of more housing for all incomes.