October 31,2025
RED FM News Desk
Richmond, B.C., Coun. Alexa Loo says a Richmond-based manufacturing company has been denied financing for a $100-million project because of uncertainty stemming from the Cowichan Nation land title ruling.
“They’ve been doing business here for over 40 years,” Loo told Global News. “They had a shovel-ready project worth about $100 million that would have created many high-quality, tech-focused medical industry jobs. But their bank told them financing was off the table — they’re not prepared to support new projects in the area affected by the Cowichan Tribes’ land dispute.”
In August, the B.C. Supreme Court granted the Quw’utsun (Cowichan) Nation Aboriginal title over 5.7 kilometres of land in Richmond.
Last week, the City of Richmond sent a letter to about 150 property owners warning that the ruling could affect the validity of their ownership. The Cowichan Nation, however, countered that the decision does not undermine private property rights.
Despite those assurances, confusion remains. “The company was very disappointed,” said Loo, who declined to name the business. “I was disappointed too. But they’re businesspeople — they’re already trying to figure out how else they can move forward.”
Part of the proposed project included constructing a road through port lands that currently end in a dead zone. Loo said she hopes the provincial government will resolve the land title issues and bring clarity to property ownership in the area.
B.C. Attorney General Niki Sharma told Global News that the province is “aggressively pursuing” a stay of the court’s decision to pause its effects while seeking an appeal. She added that the government is exploring all options, including potential financial assistance for affected parties.
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