In what conservationists are hailing as "a rare and spectacular event," a third bald eaglet has been born in a nest on B.C.'s Vancouver Island.

David Hancock, the founder of the Hancock Wildlife Foundation, says the first egg hatched in the Sidney nest, south of Victoria, last Wednesday, followed by a second on Friday and a third Tuesday morning -- all watched by thousands of people on the organization's webcam.

Related: Watch the eagle webcams

"Over the years I've gone through tens of thousands of nest observations, and I've only had two nests that have produced three hatchlings," Hancock said.

"They usually have only one, maybe two at best. Now this urban nest we're seeing one with three young, which is pretty amazing."

The foundation installed a camera in a Garry oak tree above the Sidney nest four years ago after a successful pilot project on B.C.'s Hornby Island in 2005. A third webcam is perched above a nest in Delta, south of Vancouver.

Hancock says the reason eagle parents don't usually have multiple hatchlings is directly related to the volume of food needed to raise a chick.

"It takes a lot of effort, a lot of time, and a lot of food to grow a young chick," he said.

"When there are three in the nest competing the strongest two chicks will get the most and the third will go hungry and not get dinner...and starve."

Typically the eaglets are born weighing around five ounces and grow to about 12 pounds in a manner of only a few weeks.

"Most times in the wilderness the parents are going to be lucky to raise one -- in the urban areas they're raising about two."

Despite the tough odds, Hancock gives the newest hatchling top odds for survival because of the geographical location of the Sidney nest.

"It's near a shallow inter-tidal bay full of food, so there is great potential for those chicks."

The not-for-profit Hancock Wildlife Foundation was established four years ago and aims to promote the conservation of wildlife and its habitats through science, education and stewardship.

The hatching of two baby eagles in Sidney two years ago drew worldwide attention, with virtual onlookers helping name the pair.