ICBC’s former headquarters in North Vancouver is set to be turned into hundreds of new homes, the B.C. government announced on Monday.
The former headquarters is close to transit, the SeaBus and other amenities, which is why the government chose that location, Premier David Eby explained.
“Our purchase of ICBC’s headquarters will transform the site of a largely empty office building into a thriving community with hundreds of attainable homes for middle-income people,” he said.
The new transit-oriented development next to Lonsdale Quay Market will be made possible through an agreement between the BC Transportation Financing Authority and ICBC, and Musqueam Nation, Squamish Nation and Tsleil-Waututh Nation (MST Nations).
The waterfront site at 151 Esplanade W. is within the traditional territories of the Musqueam, Squamish and Tsleil-Waututh Peoples.
Eby said the development will be mixed-use residential and will include amenities such as child care, health care and public spaces.
“͞For decades, our Nations have had to kick down doors and fight to regain a stake in our traditional territories,” said Musqueam Chief Wayne Sparrow in a statement.
Last week it was announced that ICBC will move its headquarters to 2150 Keith Dr., adjacent to the VCC Clark SkyTrain Station.
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