Primary Country (Mandatory)

United States

Other Country (Optional)

Set News Language for United States

Primary Language (Mandatory)
English
Other Language[s] (Optional)
No other language available

Set News Language for World

Primary Language (Mandatory)
English
Other Language(s) (Optional)

Set News Source for United States

Primary Source (Mandatory)
CNN
Other Source[s] (Optional)

Set News Source for World

Primary Source (Mandatory)
AajTak
Other Source(s) (Optional)
  • Countries
    • India
    • United States
    • Qatar
    • Germany
    • China
    • Canada
    • World
  • Categories
    • National
    • International
    • Business
    • Entertainment
    • Sports
    • Special
    • All Categories
  • Available Languages for United States
    • English
  • All Languages
    • English
    • Hindi
    • Arabic
    • German
    • Chinese
    • French
  • Sources
    • India
      • AajTak
      • NDTV India
      • The Hindu
      • India Today
      • Zee News
      • NDTV
      • BBC
      • The Wire
      • News18
      • News 24
      • The Quint
      • ABP News
      • Zee News
      • News 24
    • United States
      • CNN
      • Fox News
      • Al Jazeera
      • CBSN
      • NY Post
      • Voice of America
      • The New York Times
      • HuffPost
      • ABC News
      • Newsy
    • Qatar
      • Al Jazeera
      • Al Arab
      • The Peninsula
      • Gulf Times
      • Al Sharq
      • Qatar Tribune
      • Al Raya
      • Lusail
    • Germany
      • DW
      • ZDF
      • ProSieben
      • RTL
      • n-tv
      • Die Welt
      • Süddeutsche Zeitung
      • Frankfurter Rundschau
    • China
      • China Daily
      • BBC
      • The New York Times
      • Voice of America
      • Beijing Daily
      • The Epoch Times
      • Ta Kung Pao
      • Xinmin Evening News
    • Canada
      • CBC
      • Radio-Canada
      • CTV
      • TVA Nouvelles
      • Le Journal de Montréal
      • Global News
      • BNN Bloomberg
      • Métro
Braun Silk·Expert Pro 5 IPL Buy Now
Lee Women's Ultra Lux Comfort Jeans Buy Now
Men's Lightweight Jacket Buy Now
Womens Satin Pajama Set Buy Now
Womens High Waist Yoga Pants Cutout Ripped Leggings Buy Now
STGAubron Gaming Desktop PC Buy Now
Womens V Neck Tshirt Summer Floral Tops Buy Now
CQR Mens Polo Shirt Buy Now
Mens Fashion Loose Fit Crewneck Stripe T-Shirt Buy Now
Aldo Sloana Handbag Buy Now
Instant Hijab Scarf For Women Buy Now
Genuine Leather Dress Designer Belts for men Buy Now
Workout Set: 5-Piece Exercise Outfits Buy Now
THE GYM PEOPLE Joggers Buy Now
Elastic High Waisted Wide Leg Dress Pants Buy Now
Bowflex SelectTech 552 Dumbbells Buy Now
Men's Linen Casual Long Pants Buy Now
Stretchy Straight Leg Dress Work Pants Buy Now
Lace Up Loafers Shoes Buy Now
Casio A158WA: Unisex Digital Watch Buy Now
MoreBack to News Headlines
Developer wins multimillion-dollar rent dispute with Vancouver School Board

Developer wins multimillion-dollar rent dispute with Vancouver School Board

CBC
Sunday, January 12, 2025 7:22 AM GMT

A Vancouver developer will pay almost $8 million less in rent to the city's school board, after the B.C. Supreme Court issued a ruling on the school-owned Kingsgate Mall property. 

Beedie Development Group is set to pay $1.65 million per year for the lease of the mall property until 2027, despite a 2022 tenancy arbitration panel ruling that said the rent should be $9.6 million per year.

Beedie appealed that ruling in the B.C. Supreme Court, arguing that the arbitration panel had misinterpreted an earlier 1999 ruling on the matter and it should pay a lower amount.

In a December decision released last week, the court agreed with the developer.

The Vancouver School Board says it's now evaluating its next steps in the matter.

Kingsgate Mall, on Kingsway and Broadway in East Vancouver, was first leased out by the city's school board in 1972. It is a 99-year lease, with an initial 25-year renewal period and a renewal every 10 years after that.

The first renewal term for the property came up in 1997. Neither the VSB, nor then-tenant Royal Oak, could agree on a lease amount, so the matter went to an arbitration panel in 1999. 

That panel set a lease for the site, and ruled that the annual rent should be based on the land's immediate redevelopment value, and current use as a retail space.

Beedie took over Royal Oak's lease in 2005, paying $750,000 and then $760,000 a year. In 2015, they applied to renew the Kingsgate lease again, but once again the board and developer couldn't agree on terms.

The dispute led to the 2022 arbitration hearing, in which a panel rejected the 1999 hearing's interpretation and said the property's worth should be assessed off the value it could have if it took advantage of available upzoning. 

The ruling increased the worth of the land to $116.5 million, and set the rent to $9.6 million per year.

Beedie argued the 2022 decision misinterpreted the 1999 ruling over what constituted "immediate" redevelopment value.

In her December decision, B.C. Supreme Court Justice Anita Chan agreed.

"Depending on how 'immediate' use is interpreted, the difference in the market value of the lands, and thus the rent, is significant."

Read full story on CBC
Share this story on:-
Run 3 Space | Play Space Running GamePlay Run 3, the ultimate space tunnel running game with 300+ challenging levels!Adv.
Traffic Jam 3D | Online Racing GameTraffic Jam 3D is a game where you’ll be driving through heavy traffic.Adv.
Duck Hunt | Play Old Classic GamePlay the classic 1984 light gun shooter game Duck Hunt on your browser.Adv.
More Related News
Nearly half of northern Alberta community destroyed as wildfires flare

As Albertans forced out by wildfires are being allowed to return home, other evacuees are learning their homes have been lost to the flames. 

Vancouver man arrested after driving into Pacific Coliseum entrance during Cirque du Soleil show, police say

A 30-year-old man has been arrested after driving a vehicle into the Pacific Coliseum on Thursday night, say Vancouver police.

Charlottetown would be 'better served' with 4 firefighters at 1st response, says union

The union that represents professional firefighters in P.E.I.'s capital city is joining a campaign that calls for a minimum of four people per truck to initially respond in emergency situations.

Anishnawbe Health Toronto celebrates grand opening of new Indigenous health centre

A Indigenous organization in Toronto is celebrating the grand opening of a new health care facility that brings together traditional Indigenous healing and Western medicine under one roof.

Efforts are underway to make Dawson City, Yukon, more accessible — but it's not easy

To many residents and visitors, the unpaved streets, crooked boardwalks and historic buildings of Dawson City, Yukon, are a big part of the Gold Rush town's charm — but for people with mobility issues, they can also be a lot of trouble.

Carney and Trump are holding private talks to drop tariffs

Prime Minister Mark Carney and U.S. President Donald Trump are having discussions out of the spotlight to reach a trade deal and lift tariffs.

'That raised a lot of alarms': Convicted killer's DNA found at crime scene, murder trial hears

Drops of blood found near the body of a murdered woman came back matching the DNA of a convicted killer, a Calgary judge heard Thursday as Christopher Dunlop's trial entered its second day. 

Crews working to save homes as winds worsen fires in northeastern B.C.

Andrew Kurjata | Last updated: Thursday at 4:08 p.m. PT

Hot classrooms have P.E.I. teachers' union urging province to take chilling actions

It didn't take long for Prince Edward Island to switch from sweater weather to sweaty weather this spring. 

Calgary's white hat welcome tradition appears to be a no-go for the G7 this time around

As the world's most powerful leaders prepare to descend on Kananaskis, Alta., for this year's G7 summit, a famous Calgary welcome tradition may not take place this time.

Improved weather helps crews fight wildfires in Manitoba's north, east

Weather conditions in areas with wildfires are improving for firefighters, with cooler temperatures and increased humidity, but officials say they will continue fighting the blazes for some time. 

Boy, 6, falls from 10th-floor apartment in Toronto's west end

A six-year-old boy suffered serious, potentially life-threatening injuries after he fell from a 10th floor apartment unit in Toronto on Thursday, police and paramedics say.

Nunavut gov't, teachers' union ratify new collective agreement

The government of Nunavut and the Nunavut Teachers' Association have ratified a new collective agreement with several incremental wage increases until mid-2028. 

Parking Slot | Free Parking GamePlay Parking Slot, the best online 3D car driving and parking game.Adv.
Slope Ball Run - Play OnlineSlope Game takes you on an exciting journey of a ball on special paths.Adv.
Grab your popcorn! A microcinema just opened in Cambridge

They call it the big screen, but this movie theatre experience is pretty small.

Charlottetown high school's rock concert puts musical talent and Canadian pride on display

Students at Charlottetown Rural High School are preparing to take the stage at the P.E.I. Brewing Company on Friday for their School of Rock 2025 Showcase. 

Fire at Yellowknife apartment that displaced public housing tenants caused by smoking

Improper disposal of smoking materials was found to be the cause of a fire that displaced tenants of public housing from a Yellowknife apartment building in March. 

Man who considered assisted death after bedsore tells coroner's inquiry 'you have to fight' for care

Among the dozens of people who testified at a coroner's inquiry into the death of Normand Meunier, Claude Labelle may be the only one who really understands what he went through. 

Toronto's getting hotter. Experts say a chief heat officer could help the city adapt

As Toronto braces for another hotter than usual summer, some climate policy experts and advocates say a chief heat officer could help the city adapt to extreme temperatures faster. 

Western University to get 200 of province's new teacher college spaces

The Ontario government's move to add 2,600 teacher college spaces will open 200 new entry slots to Western University's education program over the next two years. 

Toronto man had to fight GoFundMe to get paid after organizer gambled away funds for his brother's funeral

In the aftermath of his younger brother's sudden death last year, Allan Oliver says he was surprised when a family friend set up a GoFundMe to help pay for the funeral.

Bay du Nord FPSO contract will be awarded in months but future undecided, says Equinor

While the future of the stalled Bay du Nord project has yet to be decided, an Equinor Canada representative says there are positive signs for the project's future, including a major contract that the oil giant will award in the next few months.

Mining, energy companies say hydro storage project could be template for N.S. mines

Halifax councillors have heard new details about a proposed hydro energy storage project at a former gold mine in the municipality.

Wildfires in West cast smoky — and potentially risky — haze over N.B.

New Brunswickers might have noticed a haze in the sky over the last couple of days.

Quebec floats cutting services for non-permanent residents

Quebec Immigration Minister Jean-François Roberge said he isn't ruling out the possibility of cutting services for non-permanent residents in the province if the federal government fails to halve its annual immigration targets.

Sask. wildfires have already burned 900K hectares of forest so far this year: SPSA

Wildfires continue to rage out of control in northern Saskatchewan, and have now burned almost 1,000,000 hectares of the province's forest so far this year and forced thousands of people from their homes.

© 2008 - 2025 Webjosh  |  News Archive  |  Privacy Policy  |  Contact Us