Over the last three years, a trio of First Nations has been involved in some of the biggest B.C. land deals this decade – acquiring six Metro Vancouver properties totalling 160 acres and worth $1 billion.
Now they’ve hired the executive who helped make it happen.
David Negrin, the president of Aquilini Investment Group and Aquilini Development and Construction since 2007, is joining MST Development Corp., the company co-owned by the Musqueam Indian Band, Squamish Nation and Tsleil-Waututh Nation, as its CEO on December 1.
Negrin is no stranger to any of the three partners. Aquilini partnered with MST in the 2014 purchase of the province’s Willingdon and BC Liquor Distribution Branch (BCLDB) properties. Negrin advised the trio on its purchase earlier this year of the province’s Jericho Lands, after MST combined with Canada Lands Co. to acquire the federal parcel and two other federal properties.
Negrin, who was a senior vice-president with Concord Pacific before joining Aquilini, has most recently overseen the building of the Aquilini Centre towers around Rogers Arena.
“The opportunity was there. I’m 58 years old, and I look forward to this being my last shot at development in Vancouver,” Negrin told Business in Vancouver. “There were long-term relationships and trust on both sides.”
He said MST is a company that he wants to grow to be the top development company in B.C. and maybe Canada, “but following the culture of the nations, involving the community.”
“In five or 10 years I hope I can walk away and they can run the whole thing; that’s where we’re headed. We’re going to get there,” Negrin said.
Musqueam Chief Wayne Sparrow said MST had “all the faith” in Negrin’s advice for several years and is thankful for the Aquilinis blessing his move.
“I wasn’t comfortable with him doing the transition because they’re one of our partners,” Sparrow said. “I didn’t want the reputation of going there and taking one of their senior people, but [father] Luigi, [and sons] Francesco, Paolo and Roberto were all in support of it.”
Managing director Francesco Aquilini did not respond to a BIV interview request.
Sparrow said MST is in it for the long haul and has already turned down an offer to sell.
Negrin said MST will be getting office space downtown, possibly in Yaletown. So far, the ex-RCMP lands, branded as the Heather Street Lands, are the first to undergo a planning process. Two of the office complexes are up for lease.
Negrin said meetings are ongoing with Burnaby civic staff about Willingdon and with Vancouver staff about BCLDB. The latter could be redeveloped into a mix of rental, light industrial and commercial after BCLDB’s planned summer 2019 move. Negrin also suggested there could be more acquisitions.
“Let’s also look at what’s out there that is First Nations land, and let’s go get it. Next year I hope we have a minimum five to 10 people working with us from First Nations, learning as we go forward.”
Sparrow, who is running for re-election November 30, said Musqueam plans to forge ahead on economic development rather than treaty talks.
“[Late Chief] Ernie [Campbell] was adamant: the government still owes us. That’s the approach that I’m staying on, that we’re not going to sit at the treaty table unless the government wants to come and sit and talk about the wrongdoings that happened in the past.
The treaty doesn’t start in 2016; it starts at contact.”
Sparrow acknowledges that some band members have criticized the purchase of land that Musqueam once owned. He agrees that it is not ideal, but believes it offers the best chance for long-term self-sufficiency. •
