Capilano University is one step closer to being an official partner in the Squamish Oceanfront Development Corporation (SODC) plans.
After years of desiring educational institutions on Oceanfront lands, the SODC has gotten Capilano onboard with a five-acre property swap deal that would bring the university into the middle of the municipality's peninsula project.
On Wednesday (July 21), the SODC issued a press release announcing each organization has agreed to exchange 4.9-acre parcels on opposite ends of the Cattermole Slough to facilitate the SODC's hoped for Oceanfront learning centre.
The learning centre property is in the centre of the Oceanfront lands, fronting green space and the Cattermole Slough to the west. In exchange the SODC would receive Capilano University's downtown lands at the end of Second Avenue, fronting the Cattermole Slough to the east.
"It's exchanging roughly 4.9 acres of developable land for 4.9 acres of developable land," said Oceanfront planner Trevor Dunn.
The SODC doesn't have plans for its new parcel, but Dunn said the deal is a win-win situation for both parties.
"It's not about owning lands," said Dunn. "It's more a strategy. SODC has to incorporate the learning centre as part of the Oceanfront development."
The details are still being worked out, said Dunn.
"It's only a letter of intent, a non-binding agreement between the two parties," he said.
"We have an agreement in principal and we're working on flushing out the definitive agreements for when the exchange will take place."
Dunn said Capilano University was identified as one of the premier candidates for the learning centre lands because of its long history in Squamish. He said discussions have been ongoing for six or seven months.
SODC board chair Bill McNeney issued a press release statement saying the agreement was a significant step for the community.
"Having Capilano University is an important component of the SODC business plan and that will lead to long-term value in the community," he said.
Dunn elaborated on the long-term value he thought the university would bring.
"We want to increase the animation and use of the peninsula lands and in order to attract a knowledge based sector and other businesses to the peninsula from an office space perspective," said Dunn. "Having a university of some sort is important to that plan."
Other components of the SODC plan include a community arts centre, a hotel package, an oceanfront village and a marina boardwalk.
Capilano University Squamish campus dean Chris Bottrill was out of the country and could not be reached for comment.
