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BC property company says it lost lender, tenant for new development after Cowichan ruling (Times Colonist)

A BC property company says a lender has pulled out of financing a new building because of the recent Cowichan Tribes ruling that granted Aboriginal title to more than three square kilometres in Richmond.

Montrose Property Holdings, which develops industrial warehouses on land it owns, some of it in the Aboriginal claims area, said it had been in “advanced discussions” with the lender which it had successfully dealt with several times before, and a prospective tenant.

But talks ended because of “uncertainties and risk allocation issues” raised by the BC Supreme Court ruling in August, the company says in an application to reopen the court case that will be filed soon ...

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