The Musqueam, Squamish and Tsleil-Waututh First Nations, which already co-own a chunk of former federal lands in West Point Grey – the Jericho lands – are hoping to expand their holdings by adding adjoining provincial land.
The B.C. government has received a letter of intent from the three First Nations to buy 38.8 acres of provincial Crown land next to the existing federal Jericho lands.
The B.C. government has had the land appraised but has not publicly disclosed how much the land is worth.
“Any final sales agreement with the First Nations would be based on fair market value for the land as determined by independent appraisals,” the government said in a news release.
The Musqueam, Squamish and Tsleil-Waututh acquired half of 52 acres of former National Defence lands from the federal government in 2014. Under that arrangement, the Canada
Lands Company owns 50 per cent and the three First Nations co-own the other 50 per cent.
The three First Nations and Canada Lands plan to develop the Jericho lands, but as yet no solid development plans have been developed.
The West Point Grey Homeowners Association has expressed concerns over the potential development.
Squamish First Nations leaders have told Business in Vancouver the lands would be developed in accordance with City of Vancouver zoning and official community plans.
