VICTORIA — British Columbia Premier David Eby says his government plans to offer private land owners in the Cowichan Aboriginal Area more than $150 million in loan guarantees, amid concerns about the impact the landmark decision will have on their financing.
He says the fund could include $100 million in guaranteed funding for Montrose Properties, the largest private owner in the Aboriginal title area, and another $54 million for smaller owners.
Eby says the final amount could be significantly higher because current plans do not yet account for significant “additional commercial activity” in the area.
Montrose, which owns about 120 hectares of a 300-hectare property in Richmond, British Columbia, says in legal documents that a previous lender turned down $35 million in financing over concerns about the decision, while discussions on a separate project have stalled.
But Eby says Montrose has “identified about $100 million in financing problems” while “rough estimates” for private residential mortgages in the area total $54 million.
In August, the British Columbia Supreme Court ruled that the Cowichan Tribes have Aboriginal title to the land, that the Crown and City titles thereon are invalid and void, and that the government's grant of private title unjustifiably infringes on Cowichan title, raising concerns about the impact on private property.
This report by The Canadian Press was first published Dec. 12, 2025.
