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TimberWest Real Estate Corp Despite focusing on selling some of its land, TimberWest
says it plans to stay in the forestry business There's a public misconception that TimberWest
is going to sell all its private forest lands on Vancouver Island
and get out of the logging business, the Cowichan Lake District
Chamber of Commerce was Frank Limshue and Steve Bruyneel of TimberWest's
real estate division, who were guest speakers at Wednesday night's
monthly dinner meeting, said more than 80 per cent of their 796,000
acres private Of the rest, 39,000 acres are being considered as core development lands that would focus on community interests. There are another 41,000 acres that are described
as associated development lands whose future, said Bruyneel, would
depend on what happens with the core development lands. A third
category, called "We've become less a forestry company and more a land management company," said Bruyneel. "That doesn't mean we plan to sell all of our land on Vancouver Island. There seems to be an impression that we're getting rid of all of our land, but more than 80 per cent we believe is best used for forestry. So TimberWest will still be a forestry company." The approach TimberWest is taking is to essentially match properties with community interests and look for buyers who fit into those community interests. "The approach we're taking is not to tell you what you should or shouldn't do," he said. "What's good somewhere else may not be best for Lake Cowichan." Bruyneel added: "There's absolutely no point in selling land for something you don't want." For example, said Bruyneel, does a community need better access to its water or perhaps there's an opportunity for a food and wine business. The company then would look to sell its land to accommodate those opportunities. That, said Bruyneel and Limshue, would result in the community essentially getting what it wants and TimberWest's shareholders getting the best return on their investments. Although TimberWest has already sold some of its
land, the company is far from having a master plan. When asked which
of its land around Cowichan Lake is going to be put up for sale,
Limshue said that will The meeting was told that times are changing on
Vancouver Island, especially in the forest industry, and TimberWest
decided to identify potentially better uses for some of the land
it owns and work with "Whether we like it or not, people want to live here, so how are we going to accommodate that," said Limshue. "The developers are coming to you asking for approval." TimberWest believes its plans for land sales might be the largest of its kind on Vancouver Island. "As the largest landowner on the island, whatever we do on it, whether we continue logging on all of it or not, has an impact on the island," said Bruyneel. One woman at the meeting asked whether TimberWest
essentially wants groups such as the chamber to come forward with
its wishes, as well "That's exactly what we want you to do," said Bruyneel. Lake Cowichan town council recently endorsed a resolution to lobby the provincial government to establish private forest land reserves so that private forest lands will not be lost, even if the land is sold. "I really want that land to remain forestry, thank you very much," said Councillor Pat Foster. Councillor Pat Weaver also commented, noting that although Lake Cowichan is relying more and more on tourism, "it will never bring in the kind of dollars that logging does." She added that people come to the Cowichan Lake area because of the small town feel and because of the lake. "That's a tough balance," acknowledged Bruyneel. By speaking to the chamber, TimberWest hopes to start a dialogue on the subject across Vancouver Island. The plan is to speak to other chambers, councils and regional district as well. |
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