Overview
- The proposal sets out about $100 million in guaranteed financing for Montrose Properties and roughly $54 million for smaller private owners.
- Premier David Eby said the final guarantee total could grow because the initial estimate excludes additional commercial activity in the area.
- Montrose says a previous lender rejected a $35 million loan following the ruling, and talks on a separate project have stopped.
- Montrose holds about 120 of the 300 hectares within the affected area in Richmond, British Columbia.
- The B.C. Supreme Court’s August decision affirmed Cowichan Tribes’ Aboriginal title and found certain Crown and city titles invalid, creating uncertainty for third-party owners.