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July 24, 2006 at 2:02 PM

McCaw’s B.C. getaway

Craig McCaw has taken over the lease of a key block of Sidney waterfront property in British Columbia, according to a story in The Vancouver Sun.

The newspaper reported that McCaw, currently the co-CEO of Kirkland-based Cleawire, leased the property through one of his businesses. The property is owned by the town, which leases it out. The lease lasts until 2038, with an option of 25 additional years.

The story asks: “Why would a Seattle-based billionaire whose name is often on lists of the world’s richest people want a block of Sidney-by-the-Sea?”

The answer, it says, comes from Howard Trott, who handles investments for McCaw: “We just love the town of Sidney and want to be part of it. We love the Saanich Peninsula. It has sort of become a second home to us all. Where you love to be, you love to participate. It’s as simple as that.”

Wonder if there’s any other reason than that?

McCaw does owns James Island, a couple of kilometers off Central Saanich on South Vancouver Island. He bought the island in 1994 for $19 million.

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