City, Seaspan and Southern Rail announce future plans for land next to Gabriola ferry terminal

City of Nanaimo

Press Release

Tuesday, May 12 2015

The City of Nanaimo, Seaspan Ferries Corporation (SFC) and Southern Railway of Vancouver Island Limited (SVI) are pleased to announce that they have entered into a Memorandum of Understanding (MOU)) to set out a process to move toward a partial discharge of the existing SFC right-of-way on City-owned property at 1 Port Drive. The MOU confirms SFC’s plans to relocate to Duke Point in 2017 and their ability to return up to 9.3 acres of land and water to the City of Nanaimo.

The MOU indicates that the City will need to compensate SFC for the value of the portion of the right-of-way that will be returned to the City. A professional appraiser will be hired to arrive at a value to form the basis for negotiations.

Prior to the discharge of the existing SFC right-of-way, a new right-of-way in favour of SVI will be granted by the City to ensure the long-term viability of rail on Vancouver Island.

The three parties anticipate a formalized deal by the end of 2015.