For $1, the Canadian Pacific Railway (CPR) can get back portions of the Arbutus rail corridor in Vancouver.
These are lands on the east side of Fir Street between West 1stand West 5th avenues.
Before the City of Vancouver bought the nine-kilometre rail corridor from CPR in 2016, it determined that these properties will be of no use for its planned greenway.
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As Susan Haid, city assistant director of planning for Vancouver South, recalls in a report to council, there are “engineering and safety constraints” regarding the utilization of these so-called “Option Lands”.
In the purchase agreement between the city and CPR, Article 11 stipulates that if these properties, which have a total combined area of 0.62 hectare, are removed from Arbutus Corridor Official Development Plan, CPR will have the option to buy back the lands for $1.