http://www.islandmotorsportresort.com/
This is interesting (to me at least); since the disappearance of Westwood in the Vancouver area back about 25 years ago, there really hasn't been a proper road racing track anywhere in British Columbia. The Mission dragstrip about 80 km east of Vancouver has a quarter mile strip connected by an S-shaped bit of asphalt to make it a track of sorts. But it's not as good as Westwood was. Also, the Boundary Bay airport where I used to do solo (slalom) events more than 35 years ago has been recommissioned as a busy airport, so it is not available either.
So into the void steps this group (German Auto Import Network), which I believe is owned by a surgeon based in southern Ontario, but who owns Oakville Autohaus (M-B), and a whole slew of dealerships on Vancouver Island: 2 Mercedes/smart dealers (Victoria/Nanaimo), 2 BMW/MINI dealers (Victoria/Nanaimo), a VW dealer, an Audi dealer, a Porsche dealer, as well as Subaru in Nanaimo. They seem to have sufficient resources to pull this off and some of their clientele (me included) would be keep to use the facility.
Interestingly, the track and related facilities will be designed by Tilke.
The only uncertain thing at the moment is the exact location. Speculation locally has included some First Nation lands, and a parcel in the municipality of North Cowichan. The latter site is only 25 km from home! Bonus!