Some doings a-transpirin’ up the Sea-to-Sky in Squamish:
A long-planned oceanfront development agreement moved another step closer this week with Council’s approval of a land transfer. The plan sells off 103 acres – the entire oceanfront peninsula – to a development team in exchange for $15 million in cash, a $10-million park, and an understanding to develop the entire site over a 20-year period.
Existing and full-built proposal are here:
While it’s unclear what the long-term ramifications of private ownership of the peninsula will be, District Council and the Mayor obviously thought it was the only way anything was going to be developed on this land. Whether the District could have simply provided a long-term lease and kept the land will undoubtedly be debated.
It’s not a crime to make money, and real estate development is not a charity. Without the promise of profit, very little will actually get built. But did the District give up too much for too little? I’m curious to hear your thoughts.