Two companies have been chosen to carry out development of a key 59-acre parcel of publicly owned land on Squamish's oceanfront peninsula.
The Squamish Oceanfront Development Corp. (SODC) board has chosen a proposal submitted jointly by Matthews Southwest Developments (MSW) and Bethel Lands Corp. to develop a mixed-use residential project, District of Squamish (DOS) officials announced in a statement issued late Thursday (Oct. 10).
Bethel is a local company, while MSW was described as “a prominent North American developer with strong Canadian roots.”
“The SODC is very pleased to have attracted such a large development company who has completed major, transformative projects in Dallas, Calgary and Ontario,” SODC vice-chair Gregg Smyth said in the statement.
“MSW brings an exceptional level of expertise to our community which, coupled with Bethel's local knowledge, produces a very strong team. It's very rewarding to the SODC team to now be in a position to share this good news with the Squamish community.”
The MSW-Bethel proposal was chosen after an 18-month process set out in a council resolution in the spring of 2012. The request for expressions of interest attracted seven proposals, officials said.
The MSW/Bethel proposal plans to follow the District of Squamish sub-area plan for the Oceanfront lands. Negotiations will now take place to finalize the land transaction that will transform Squamish's Oceanfront, officials said.
Construction is expected to begin immediately upon the completion of a deal, which is expected to conclude in mid-2014.
“The SODC Board has done an absolutely stellar job in delivering on Council's mandate, through attracting international proposals to our oceanfront, and undertaking a rigorous review process to safeguard the best interests of the community,” Mayor Rob Kirkham said.
“We extend much gratitude for SODC's tireless efforts to get us to this place. The team's diligence, tenacity and strategic competence have delivered us an opportunity that will realize the community's vision for the Oceanfront Lands.”
Stay tuned to The Chief for more on this developing story.