I saw them auctioning off tires from a crew van. The CP Pavilion in Calgary, where they keep their passenger stock and 2816, has been for sale for some time. That's not new, he'll sell anything that isn't nailed down! We haven't had any new power since he came on, either.
However, this is a bit different as the Arbutus has been out of use for 15 years and they've been trying to abandon it unsuccessfully. This came to a head, basically like this:
Vancouver: hey can we have this land you're not using
CP: k but it's going to cost you
V: Why, it's not like you're using it
CP: starts replacing ballast oh sure we are there's going to be trains any day now
Apparently the city reached a high enough price to convince CP to let go of it.
One more factor is that Vancouver's real estate market is absolutely balls-to-the-wall insane, it's one of the least affordable markets in the world. If I moved there, my wage would go down by $10/hr, yet the average house price would be nearly quadrupled.
So...yeah. All those things. Have a train.