Skip to main content
This website uses cookies. By continuing to use this website you are agreeing to our use of cookies as described in our privacy policy.
Client Work

Vancouver acquires Arbutus rail corridor from Canadian Pacific Railway for C$55 million

Fasken
Reading Time 1 minute read Subscribe
Client

Canadian Pacific Railway Corporation

On March 7, 2016, Canadian Pacific Railway Corporation (“CP”) reached an agreement with the city of Vancouver to sell the Arbutus corridor for $55 million. The landmark agreement ended 15 years of feuding over the corridor, and allows the City to create a transportation corridor and greenway while providing a fair return to CP and our shareholders. The agreement also allows CP to share in future proceeds on the eventual development and/or sale of certain parcels of the corridor. The space will be transformed into the Arbutus Greenway, a future, north-south transportation corridor that will connect False Creek to the Fraser River. Fasken Martineau was counsel to Canadian Pacific throughout the transaction, with a team that included Carmine Boskovich.

    Subscribe

    Receive email updates from our team

    Subscribe