The saga of the sale of the Oceanfront Lands has had more twists and turns than a newbie kiteboarder has falls off the board.
The latest twist has eccentric developer Doug Day, a vocal opponent to the current deal for the peninsula property, making the district an offer of $20 million for the land.
With a deal between Newport Beach Developments Limited Partnership and the district, through Squamish Oceanfront Development Corporation, set to close on June 23, Day said he had to make a last-ditch dramatic effort to try and stop it.
“This deal… has a gigantic net loss to the community,” he said.
Day has long objected to many aspects of the current Oceanfront deal, including the increased development cost charges that would be collected for new growth in the community. Day says the cost charges would give Newport Beach Developments $35 million during the course of the development of the 59 acres of former industrial land and 44 adjacent acres of submerged water lots.
Day said he would use the land for development that would not interfere with the Squamish Terminals or the forestry businesses that border the property.
“Maybe light manufacturing uses, clean industry,” he said. “There is a screaming, crying total shortage of industrial land in the greater Vancouver region… and we’re taking a beautiful piece of flat industrial land down at the south end there and putting housing there. The whole thing is lunacy.”
Though the sale is set to close after the passage of a few conditional bylaws slated to come before council in the coming weeks, Day said it isn’t too late for the district to change course.
“The city isn’t bound by any of that until the very last agreement is signed and sealed and checked off. It is just an open deal. Anyone can come along and offer to buy it,” he said, adding he waited so long to make the offer because he didn’t really believe the current Newport deal would go as far as it has.
The district confirmed Day did make the $20 million offer.
“We are currently working with a proponent under a conditional purchase and sale. The new offer that council has received does not comply with the Oceanfront sub-area plan, which has been a parameter set out by council,” Mayor Patricia Heintzman told The Squamish Chief. “Should the purchase not go through, council will re-evaluate.”
Day said the sub-area plan, which calls for any development of the land to include one-third park land, one-third employment lands and one-third residential, is not feasible or affordable.
“It doesn’t work,” he said.
Day has been responsible for creating University Heights, a 50-acre mountain-top housing development, and Garibaldi Springs Golf Course.
The District of Squamish received the Oceanfront lands from the provincial government in 2004.
In July of 2014 the Squamish Oceanfront Development Corporation, an offshoot of the district, signed on the $15 million conditional sale of the land with the developer now known as Newport Beach Developments.
