James Island (Sotheby’s International Realty photo)

Billionaire enters deal with developer over James Island near Sidney

Article from Arizona-based developer indicates partnership with Craig McCaw

A new partnership involving billionaire Craig McCaw is apparently bringing an Arizona-based luxury developer to privately owned James Island.

According to an article in the latest issue of Discovery Life Magazine, a publication from developer Discovery Land Company, the company recently formed a partnership with McCaw, who bought the island in 1994 for $19 million.

Details on the partnership and development plans are sparse within the article — it’s unclear if McCaw is retaining ownership of the island, which is located near Sidney — but the story mentions plans to develop “fewer than 100 or so housing sites on two- to five-acre lots.”

Black Press Media has reached out to Discovery for comment.

The developer specializes in building private, luxury residential communities and resorts, according to the company’s website. The apparent James Island development would likely be one of the company’s smaller developments, the article states.

The island, which McCaw listed for sale for $75 million several years ago, was valued at close to $57 million as of early January of this year.

The 770-acre parcel is the second largest privately owned island in the region and, currently, features a 4,500-square-foot main house, six guest homes, a private airstrip and an 18-hole golf course designed by Jack Nicklaus.

McCaw purchased the island from a developer who was planning a subdivision of more than 300 houses, according to Discovery’s article. The island was, at one point, home to an explosives manufacturing company, and McCaw spent more than $5 million removing remnants left by the plant from the island.

The Tsawout First Nation launched a lawsuit last year against Canada and B.C., suing for the return of the island. The lawsuit alleges James Island was part of the 1852 treaty with then-Governor James Douglas.

READ ALSO: UPDATE: Tsawout First Nation sues for the return of James Island

READ ALSO: Here’s the one property among B.C.’s 10 priciest that’s not in Vancouver


Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

UPDATED: Injunction targets blockade on Pat Bay Highway

About 80 people from four major Peninsula First Nations blocking major highway

City of Langford rebrands, announces several projects

‘Langford, where it all happens’ is the City’s new slogan

Pink Shirt Day uplifting for West Shore RCMP

Members of the West Shore RCMP have scheduled a variety of activities with students Feb. 26

No dogs allowed off-leash at Luxton Fairgrounds in Langford

New sign placed by Metchosin Farmers Institute on Wednesday, Feb. 19

Central Saanich Police prepared for afternoon shut-down of Highway 17

Sgt. Paul Brailey questions efficacy of protest

VIDEO: ‘Reconciliation is dead,’ say Wet’suwet’en supporters from steps of legislature

Supporters say they will continue ongoing action to hold government accountable

Greater Victoria Crime Stoppers wanted list for the week of Feb. 25

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

B.C. seniors’ watchdog calls for better oversight after recent problems at Retirement Concepts care homes

‘There is no financial incentive right now to be a good operator’ - Isobel Mackenzie

Trucking company fined $175K for Kootenay creek fuel spill

Decision handed down last Friday in Nelson court

B.C. Liberals call for ban on foreign funds to pipeline protesters

Sierra Club, Wilderness Committee back Coastal GasLink blockades

Donations pour in for family who lost father, son in fatal crash on B.C. highway

Mike Cochlin and sons Liam and Quinn were travelling on Highway 5A

Vancouver Island RCMP officer assaulted during traffic stop

On Feb. 21, a member of the Comox Valley RCMP was assaulted… Continue reading

Most Read