James Island. (Sotheby’s International Realty photo)

James Island. (Sotheby’s International Realty photo)

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

James Island, the 770-acre property is the second largest privately owned island in the region

It’s no surprise that Vancouver is home to almost all of the highest valued properties in B.C. Assessment’s 2019 data. But what about the one property that isn’t?

Among the scattering of small islands among the Gulf Islands lies James Island. Owned by billionaire Craig McCaw through his company JI Properties, the 770-acre parcel is the second largest privately owned island in the region.

It features one main house, six guest homes, a private airstrip and an 18-hole golf course.

Formerly home to a munitions plant, the island highlights an inflating trend seen over the past two decades in B.C.’s housing market.

McCaw bought it for $19 million in 1994. Now, it’s valued at nearly $51 million, with the buildings valued at $5.8 million, making it the third top valued property in the province.

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

Other mega-properties to top the list include Lululemon founder Chip Wilson’s Kitsilano home, at 3085 Point Grey Rd., valued at a cool $73 million – $2 million less than in 2017.

On Belmont Avenue not far away lies a 10-bedroom mansion valued at $65 million. The Vancouver street, known for its waterfront views, is home to five other top-valued properties.

Here are B.C.’s priciest properties of 2019:

  1. 3085 Point Grey Rd., Vancouver – $73,120,000
  2. 4707 Belmont Ave, Vancouver –$65,466,000
  3. James Island, James Island – $56,757,000
  4. 4719 Belmont Ave, Vancouver – $41,203,000
  5. 2815 Point Grey Rd, Vancouver – $39,961,000
  6. 4743 Belmont Ave, Vancouver – $37,724,000
  7. 4773 Belmont Ave, Vancouver – $35,880,000
  8. 4857 Belmont Ave, Vancouver – $35,621,000
  9. 3489 Osler St, Vancouver – $35,157,000
  10. 2999 Point Grey Rd, Vancouver – $35,012,000

@ashwadhwani
ashley.wadhwani@bpdigital.ca

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