Last week we reported that the City of Vancouver quietly signed a Memorandum of Understanding and Protocol Agreement with the Squamish Nation that is likely connected to the tribe’s desire to develop the land it owns around the south end of the Burrard Bridge.
The Squamish First Nation is going to reclaim its ancestral village in the heart of Vancouver by putting up two major condo towers that will block views to English Bay and the mountains and dramatically change the city skyline.
An early draft of the development proposal features 35-storey and 28-storey condo towers on the south end of the Burrard Bridge, exactly where a giant billboard was erected by the first nation a few months ago. It will fundamentally block the view corridor the City of Vancouver has preserved for decades.
The development, which also dramatically ramps up the density of Kitsilano, will bring an additional 2,000 parking spots and offices that will house thousands of workers. It’s a real-estate play that could near the $1-billion range and generate massive profits.