Developer chosen for Squamish Oceanfront Lands

The Squamish Oceanfront Development Corporation has delivered on Council’s mandate to expedite the development of the Oceanfront Lands, as laid out in a Council resolution in the spring of 2012. In just over 18 months, a developer has been chosen. Negotiations will now begin in order to finalize the land transaction that will transform Squamish’s Oceanfront.

“The SODC Board has done an absolutely stellar job in delivering on Council’s mandate, through attracting international proposals to our oceanfront, and undertaking a rigorous review process to safeguard the best interests of the community,” says District of Squamish Mayor Rob Kirkham. “We extend much gratitude for SODC’s tireless efforts to get us to this place. The team’s diligence, tenacity and strategic competence have delivered us an opportunity that will realize the community’s vision for the Oceanfront Lands.”

The chosen proposal was submitted by partners Matthews Southwest Developments (MSW), a prominent North American developer with strong Canadian roots, and local developer Bethel Lands Corporation (Bethel), principal behind a variety of mid-sized projects in the Sea to Sky Corridor over the past decade.

“The SODC is very pleased to have attracted such a large development company who has completed major, transformative projects in Dallas, Calgary and Ontario,” says SODC Vice-Chair Gregg Smyth. “MSW brings an exceptional level of expertise to our community, which coupled with Bethel’s local knowledge, produces a very strong team. It’s very rewarding to the SODC team to now be in a position to share this good news with the Squamish community.”

MSW is a developer whose roots began as a family business in Ontario, is now involved in projects in Canada, the USA and Mexico, and headquartered in Lewisville, Texas. With offices in Dallas, Calgary, and Mississauga, Ontario, MSW has extensive experience in the redevelopment of brownfield sites including Dallas’ South Side Development, and the recent completion of the $1.4 billion Bow development in Calgary.

Bethel is a Squamish-based development company who has been the principal behind a number of mid-sized projects totaling approximately $102 million in the Sea to Sky Corridor over the past decade. Such projects include: Amblepath subdivision, Quest University Residences; Cornerstone Professional Building; Crumpit Woods subdivision; Baxter Creek subdivision (Whistler); and the Sea to Sky Gondola.

“We are extremely pleased with the high calibre of the MSW/Bethel proposal that will deliver the vision of the community,” continues Kirkham. “This is a very exciting and pivotal moment in Squamish’s evolution and we are thrilled that SODC has brought us to this juncture. This is a great accomplishment and is very positive for Squamish.”

“Squamish is a beautiful setting for what could only be described as an iconic project which will be a lasting legacy for the entire area,” says Jack Matthews, President, Matthews Southwest. “We have developed a valued association with Bethel, and our joint financial and development resources are more than adequate to undertake a project the size and scale of the Squamish Oceanfront.”

“The Oceanfront Lands in Squamish may be viewed simply as a construction and development project with streets, parks and buildings, but we are working to create something much more than that,” says Michael Hutchison, President, Bethel Lands Corporation. “We are working to help create a community that can only be achieved when we all work together.”

The SODC Board presented detailed proposals to Council on Tuesday following an extensive international marketing campaign resulting in seven Expressions of Interest, a comprehensive due diligence process with those seven, and an in-depth proposal review with a shortlist of two developers.

The MSW/Bethel proposal plans to follow the District of Squamish Sub-Area Plan for the Oceanfront Lands, which was developed with extensive community involvement. Construction would proceed immediately upon the completion of a deal, which is expected to conclude mid 2014.

October 10, 2013