Dunster, B.C., community fights billionaire land purchases that have left homes vacant
Two U.S. billionaires have bought 25 properties in the small farming community since 2008, with 16 homes now sitting empty while the population shrinks.
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A small B.C. farming community is calling for provincial restrictions on foreign ownership of agricultural land after two U.S. billionaires quietly acquired dozens of properties over the past 16 years.
Since 2008, a company co-owned by American billionaires Bobby Patton Jr. and Mark Walter has bought 25 properties in Dunster, an unincorporated community of roughly 240 people located 40 minutes north of Valemount. The purchases include 16 homes, almost all of which are now vacant. The company, Fraser River Landholdings Ltd., registered in Canada, now owns about 3,500 acres of land in Dunster.
Patton Jr. and Walter are co-owners of the Los Angeles Dodgers and were estimated to have a combined net worth exceeding $5 billion in 2020. By contrast, the average household income in the Dunster area is about $60,000 per year.
All but one of the properties sit within the Agricultural Land Reserve. The company has installed locks, gates, and security cameras on its holdings, unsettling residents who historically knew their neighbours and considered Dunster a community built on mutual trust.
Locals say the vacant homes have ripple effects beyond empty streets. The population of Dunster has fallen from 350 to 240 since 2008, making it harder for the community's non-profit sector to sustain itself. Volunteer capacity for organizing community events is dwindling, residents say, while the community ages without new neighbours bringing energy.
Unlike many other provinces, British Columbia has no restrictions on foreign ownership of agricultural land. Dunster residents are now asking the provincial government to change that — and to redefine what qualifies as a Canadian company in the province.
