The leadership of the Musqueam, Squamish and Tsleil-Waututh Nations have signed an historic land-sale agreement with the Province to purchase the provincial Jericho Lands.

Following an extensive consultation process with the First Nations, an agreement has been reached for the Nations to purchase the two parcels that make up the Jericho lands from the Province, for a net sale price of $480 million.

This landmark agreement enables First Nations to begin a meaningful community consultation process with the City of Vancouver on what the community would like to see with respect to future development of the lands. Any and all rezoning and development plans will be required to follow the mandated consultation process established by the City of Vancouver, and will require a Community Amenity Contribution from the First Nations to the City based in part on the outcome of the consultation.

Confirming the sale and transfer of the Lands to the First Nations is a further step towards reconciling the Nations’ and the Province’s interests with respect to their traditional territories and confirms the settlement of all of the Nations’ claims to the Jericho Lands.

Releasing these lands for potential development means an additional 38.8 acres of newly available land for potential development, which will help increase the supply of housing in the Vancouver market.

In Budget 2016, the Province changed the Property Transfer Tax to help the market respond to mounting demand for housing by offering an incentive of up to $13,000 in tax reductions for buyers that purchase newly built homes priced up to $750,000. Budget 2016 also includes measures to provide more affordable housing options for lower-income earners.

Documents related to the sale including the purchase sales agreement and appraisals are available here: 

• https://news.gov.bc.ca/files/Jericho_2_and_3_September_29_2016.pdf
• https://news.gov.bc.ca/files/Jericho_amendment_December_14_2016.pdf
• https://news.gov.bc.ca/files/CWPC_Jericho_1_of_3_September_2016.pdf
• https://news.gov.bc.ca/files/Appraisal_Report_altus_September_29_2016.pdf
• https://news.gov.bc.ca/files/Purchase_sales_Agreement_September_29_2016.pdf

Minister of Technology, Innovation, Citizens’ Services, Amrik Virk –

“This is a significant economic development opportunity for the Musqueam, Squamish and Tsleil-Waututh Nations. The redevelopment of these lands will provide new construction jobs, community amenities and the potential to increase the much needed housing supply in Vancouver.”

MLA, Vancouver – Quilchena, Andrew Wilkinson –

“This historic sales agreement opens the door for a thorough and meaningful consultation process to be led by the three First Nations and the City of Vancouver. Local residents will have the opportunity to provide their input on how they would like to see these lands developed for the greatest benefit of the community in the future.”

Quick Facts:

• The Jericho lands consist of 90.4 acres.
• Two parcels totalling 38.8 acres were previously owned by the Province.
• The first provincial parcel will transfer on Nov. 1, 2016, and the second parcel on Nov. 1, 2017.
• Fifty-two acres were transferred in Oct. 2014, from the federal government to the Canada Lands Corporation and the Musqueam, the Squamish and the Tsleil-Waututh First Nations.