There are no concrete plans for re-development, but two First Nations finally have a prime piece of real estate back in their hands.

There are no concrete plans for re-development, but two First Nations finally have a prime piece of real estate back in their hands.

Members of the Esquimalt and Songhees First Nations signed off yesterday on a deal to purchase the land in Rock Bay from BC Hydro.

The utility paid about $128-million to clean up the 4.5 hectares of land after inheriting it from its predecessors.

Cleanup and construction began around 2011 and plans were quickly put in place allowing the First Nations to buy it back.

Esquimalt Nation Chief Rob Thomas says getting the land back has been a long time coming.

While Thomas says there are no concrete plans for development just yet, he says the cheifs are excited about the economic possibilities.

Songhees Nation Chief Ron Sam calls the parcel of land one of the "last pieces of blank canvas in Victoria's harbour."