One of Canada's most prominent conservation groups has reached a deal to buy the largest privately owned island in Lake Superior, a move that will protect it from development.
Batchawana Island, located 45 kilometres north of Sault Ste. Marie, Ont., is set to be acquired by the Nature Conservancy of Canada for $7.2 million once the organization raises an outstanding $1.2 million for the purchase.
The roughly 2,100-hectare island is home to several significant animal and tree species and has been owned by American investor Joe Acheson for the last 20 years. Michigan logging companies interested in bringing the island's lumber to their markets were deterred by the same complications, Cormier said, noting Batchawana is home to valuable sugar maple, yellow birch, white and black spruce and northern white cedar.
When housing markets are hot, "it’s harder for the NCC to compete because there are so many offers flying around and people have a lot of expendable income," she said. The economic downturn in the U.S. may have made the island’s return on investment less attractive to other possible buyers, she added.
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