A rendering showing what the development might look like. Handout
The Globe and Mail published this morning that might remind you why paid subscription models are still worthwhile (it's a fantastic story, worth this month's digital sub fees).
In Frances Bula's she outlines a new plan that the Squamish Nation has to build out the land that they own at the foot of the Burrard Street bridge on the South side.
The Nation's former plan to build 3,000 units on their land - which we told you about back in April - has now doubled to 6,000 units within 11 towers.
The units will be "mostly rental", and only 10% of them will come with parking spaces.
Since the land isn't under the control of the City the band can essentially do whatever they want with it without consultation from residents.
In this case that means working with Ian Gillespie and his company Westbank as a partner that would see the developer taking 50% of the proceeds from the project.
Why did they double the size of this already-large project which will certainly make some neighbours lose their minds?
Self-described progressive councillor Khelsilem of the Squamish Nation is quoted in Bula's piece as saying "We as council have a responsibility to make sure the highest value is created on an asset they [band members] own."
That sounds a lot like capitalism, which combined with socialism seems to be the perfect fit for this piece of land which has sat unused for decades.
The 3,000 members of the band win, the City wins as a load of rental units stand to be built, and a private Â鶹´«Ã½Ó³»business will rake in a massive amount of cash as they share the monetary profits.
It will all be decided in December when the Nation's members will vote in a referendum.
This is a monumental project for country and the world.
— Khelsilem (@Khelsilem)
$3 billion dollar development in Â鶹´«Ã½Ó³»with 50% of revenue going to the local Indigenous community.
This is Vancouver's Stupidest Politics Column. Read the archive HERE.
