Cowichan case blamed for sinking B.C. property deals, including luxury hotel purchase – Times Colonist
Dec 11, 2025
VANCOUVER — An Ontario company that put down a deposit to buy a luxury hotel in Richmond, B.C.
VANCOUVER — An Ontario company that put down a deposit to buy a luxury hotel in Richmond, B.C., pulled out of the deal worth tens of millions of dollars weeks later because of “uncertainty” caused by the landmark Cowichan Tribes Aboriginal title ruling, according to the marketers of the property.
Court documents show that the 14-storey Versante Hotel, close to Vancouver International Airport, was instead bought by a Hong Kong purchaser in October for the lower price of $51.5 million.
The exact value of the withdrawn offer isn’t disclosed in documents related to the court-ordered sale, which was compelled by lenders to the project who said they were owed $113 million as of August.
