Chief Maureen Thomas. © Tricia Thomas

Tsleil-Waututh Nation has regained partial ownership of 38.7 acres of its traditional territory — which happens to be some of the most valuable real estate in Canada.

The First Nation, along with Squamish and Musqueam, successfully purchased the remaining tract of the Jericho Lands in Vancouver, which was once a shared village site for the three communities. The nations split the $480 million it took to buy the land back from the province.

It adds to an adjacent 52-acre property the communities acquired with Canada Lands Company two years ago. The lot is located in the affluent Point Grey area of Vancouver, and includes some of the most expensive and coveted real estate in the country.

Leaders of the three communities say there are no current plans around what will be done with the land, and that there will be meetings between the three nations and residents of the area to decide. Tsleil-Waututh Chief, Maureen Thomas, said it is a huge milestone for all three nations.

“By acquiring the [site] together we are regaining our lands back where our ancestors once lived and creating a future for our children and grandchildren to flourish,” she said. Some residents have expressed concern about what might happen to their homes now that the land has new ownership. But the area’s MLA, Andrew Wilkinson, said selling the lands is another step towards reconciliation.