North Vancouver ICBC site to be transformed into homes
Posted June 17, 2024 7:44 am.
Last Updated June 17, 2024 7:07 pm.
The B.C. government has purchased the soon-to-be-former ICBC site in North Vancouver and will be turning it into hundreds of homes, it says.
In a housing announcement Monday morning, Premier David Eby announced the capital investment, explaining that the purchase is part of the province’s plan to create housing near transit hubs.

“Underused areas that are already well-connected to transit and close to services and amenities are the perfect places to build new homes,” said Eby.
“That’s why we’re buying up land near transit hubs and working with partners to shape development in a way that prioritizes the needs of the people who live and work in our communities over luxury condos. 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.”

The purchase comes just days after ICBC announced it would be moving to a new office space in Vancouver after the changing work environment has seen its massive building in North Vancouver sit more than half-empty during the work week. ICBC is expected to fully relocate its operations to the smaller, more efficient Keith Drive location in Vancouver between December 2026 and May 2027.
The province says the project is in the early planning process, but the project will “create several hundred homes.”
The new homes along Esplanade West will be built in partnership with the province, the BC Transportation Financing Authority and ICBC, and the region’s Host First Nations — xʷməθkʷəy̓əm (Musqueam), Sḵwx̱wú7mesh (Squamish) and səl̓ilw̓ətaʔɬ (Tsleil-Waututh) Nations.
“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. “Through this new partnership approach, we are turning over a new page, one that will lead to our governments working together as partners in redevelopment and concrete results in tackling the housing crisis.”
Squamish Nation spokesperson Sxwixwtn Wilson Williams said the he is raising his hands to the “province’s approach of seeking First Nations as true partners on this kind of unique development.”
“This is an important part of the Musqueam, Squamish, and Tsleil-Waututh shared territory, and we welcome the opportunity to be partners on delivering housing that serves our members and the public as a whole,” he added.
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