MST Has Deal In Place To Buy Out CLC From Jericho, Heather Lands, Documents Show

The MST Development Corporation, representing the Musqueam, Squamish, and Tsleil-Waututh First Nations, has formalized a plan to buy out the Canada Lands Company (CLC) from its stakes in Vancouver's Heather Lands and Jericho Lands. These high-profile properties were initially co-purchased in 2014, with a shared vision of redevelopment that integrates Indigenous culture. The strategic move signals a shift in the partnership, allowing the Nations to take full control of these valuable lands.

This agreement will unfold in phases, with the Heather Lands buyout commencing upon rezoning approval expected in late 2024. The phased approach allows time for necessary approvals, particularly rezoning efforts, before financial transactions begin. Payments for Jericho Lands are planned for later years, contingent on achieving similar rezoning and development benchmarks. This careful planning ensures that both sites are developed in line with the Nations' long-term vision.

The partnership began with the acquisition of three parcels for $307 million, marking a significant milestone in MST's real estate ventures. This initial purchase paved the way for future independent property acquisitions, reflecting the Nations' growing influence in the real estate sector. Since then, MST has secured other significant properties independently, including the Jericho Hill lands. Together, these properties form a combined 90-acre site primed for mixed-use redevelopment that reflects the Indigenous values of the Nations.

The collaboration’s legacy includes creating culturally rich, sustainable communities. The planned developments for Heather and Jericho Lands prioritize environmental sustainability, public accessibility, and the inclusion of Indigenous cultural elements. While CLC exits its ownership role, both entities have expressed optimism about MST’s stewardship of these transformative projects. The transition marks a key moment in the ongoing efforts to reshape Vancouver’s urban landscape.

Heather Lands development applications, guided by partner Aquilini Development, have been submitted recently. These applications outline plans for a community-focused redevelopment that balances residential, commercial, and cultural spaces. This partnership is crucial for ensuring that the vision for Heather Lands, and eventually Jericho Lands, stays aligned with the interests of the Nations and the broader Vancouver community.

As the MST Nations advance their control, they aim to strengthen their role in Vancouver’s urban planning. These projects symbolize progress in reconciling Indigenous land rights with city growth while fostering economic empowerment for the Nations. This acquisition is a powerful step toward greater self-determination, with long-lasting impacts on both the Indigenous communities and the city’s future development.