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Subject: Interesting
Date: Tue, 25 Jan 2005 18:41:54 EST



SCT Newswire
Canadian Indian tribe, local developers team up to build mixed-format center
WHISTLER, British Columbia — The Squamish Indian tribe of Canada is teaming
up with local developers to build Seymour Creek Village, a
430,000-square-foot, mixed-format shopping center on tribe-owned land in North Vancouver,
British Columbia.
When the project breaks ground next year, the developers said Monday at the
ICSC Whistler Conference here, it will include large, medium and small stores
in a design suggestive of a traditional Squamish village.
Tribal leaders hope the 30-acre project will bring jobs to an area that
suffers high unemployment. Progressive Properties, Richmond, British Columbia;
and Kingswood Capital Corp., Vancouver, said they chose the Squamish site
because of a growing land squeeze in the area.
Land owned by First Nations tribes is becoming increasingly important to
shopping center developers in British Columbia as other sites are exhausted,
said Bob Mason, president of Vancouver-based Longbow Properties. “Today in B.C.,
if you're developing in a city that's growing or that has a restricted land
base, there's a big chance that you're going to be looking at First Nations
reserve land as a possible site,” he said.
Numerous Canadian cities and regions fit this scenario, Mason said, among
them Lower Mainland, North and West Vancouver and Port Coquitlam, together with
much of Vancouver Island and parts of the Okanagan Valley.
David Schiffer, executive vice president of First Pro Shopping Centers,
Vaughan, Ontario, said that investigation of Indian tribal sites has become a
priority for his company's operations in British Columbia. “First Nations land
is in the crosshairs of suburban and urban development,” said Schiffer, whose
company develops Wal-Mart-anchored power centers. “We can't ignore these
possibilities.”




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