Vancouver buys CP Rail land for urban greenway, ending long-running dispute
VANCOUVER — A long-running dispute between Vancouver and Canadian Pacific Railway (TSX:CP) over an old rail corridor through the centre of the city has been settled.
The city has agreed to pay $55 million for the railway route, which stretches nine kilometres and consists of almost 17 hectares of open space.
Mayor Gregor Robertson said Monday the agreement means the city will be able to transform the area into a greenway that connects neighbourhoods from False Creek near downtown to Marpole on the Fraser River on the south side.
Part of the corridor is also slated for use as a light-rail, rapid transit system, which Robertson said would operate alongside the public greenway that will be available for walking and cycling.