Sep 22, 2022 – Jane Seyd/North Shore News

After occupying one of the most recognizable spots on the North Vancouver waterfront for over 40 years, ICBC has announced plans to literally “leave the building” in the next three to five years.

The Insurance Corp. of British Columbia told its approximately 1,500 head office employees Thursday (Sept. 22) that the Crown corporation plans to vacate its 300,000-square-foot six-storey office some time in the next three to five years. The move isn’t expected until 2025 at the earliest.

Bowinn Ma, MLA for North Vancouver-Lonsdale, said when she first heard about the announcement this week, “I have to admit my reaction was of surprise and worry.”

In particular, Ma said she was concerned about what the exodus of workers would mean for local businesses.

But given the fact most of those people are often working from home anyway, Ma said she’s now looking at the change as an “exciting opportunity” for revitalization of a key area.

She added with discussion of both more rapid transit for the North Shore in the future, and the need for housing, the land could play a key part in those discussions.

“We’ve been talking a lot about transit-oriented development,” she said, adding the government recently passed legislation that allows the Ministry of Transportation and Infrastructure to purchase and hold land for purposes other than direct transportation.

“So building housing and building complete communities, there are lots of opportunities there.”

Ma added personally she would like to see the land stay public rather than being sold off to private development interests.

Read the full article at nsnews.com.