BC Government says the I-C-B-C headquarters property in North Vancouver will be transformed into several hundred new homes.
According to premier David Eby province is purchasing the property as part of its initiative to capitalize on underused land that’s already close to transit and community services.
The Housing Ministry says the insurance corporation’s hybrid work model means the existing 300-thousand square-foot building has been operating at less than half capacity.
The Crown corporation is set to move its headquarters to East Vancouver, while the province works with the Musqueam, Squamish and Tsleil-Waututh First Nations to redevelop the North Vancouver site.
The purchase of this property is part of the Province’s $394-million commitment to deliver 10,000 homes near transit during the next 10 to 15 years. The goal is to acquire land near existing and future transit hubs and transform it into thriving communities with homes and amenities.
