Much like in the US, Canada is experiencing a severe housing-affordability crisis, and the country's Indigenous communities, the majority of which are known as First Nations, have long suffered disproportionately from inadequate housing.

Canada’s first Indigenous-owned investment dealer could soon be a reality as Scotiabank is partnering with two Indigenous development corporations and a First Nation to launch one. Cedar Leaf Capital Inc., which submitted an application with the Canadian Investment Regulatory Organization for approval on Thursday, will be majority-owned by Nch’ḵay̓ Development Corp., Des Nedhe Financial LP and Chippewas of Rama First Nation.

Revery Architecture has designed the Sen̓áḵw residential skyscrapers for the Squamish Nation's land in Vancouver, which will aid economic development and "benefit all Canadians", according to the Indigenous group.

Two multidisciplinary design and urban planning teams have been selected by Squamish Nation to create master plans for the development of their prominent reserve lands in Metro Vancouver, the Sea to Sky corridor, and the Sunshine Coast.

Almost exactly one year after the Kitsilano Point Residents Association (KPRSA) filed a court petition to effectively stop the construction advancement of Squamish Nation’s Senakw rental housing project, a judge with the Supreme Court of British Columbia has released her ruling, coinciding with National Truth and Reconciliation Day.

Sen̓áḵw is one of the largest low-carbon residential and Indigenous-led real estate developments in Canadian history. Currently underway at the south end of the Burrard Bridge in Vancouver’s Kitsilano neighbourhood, when complete, 11 towers will soar from the 10.5-acre reservation, filling a diverse range of housing needs in an area desperate for supply.

In an engaging discussion at the Vancouver Regional Construction Association’s Construction Leadership Forum on May 5, members of the Nch’ḵay̓ Development Corporation gave a wide-ranging talk that addressed the burgeoning economic reconciliation taking place for Indigenous businesses and the factors the corporation looks at when considering partnerships.

Buoyed by the momentum of the Senakw project on Kitsilano reserve at the south end of the Burrard Street Bridge in Vancouver, the Squamish Nation announced today it has begun exploring the development of its other properties across the BC South Coast.

Khelsilem and Wight, young and ambitious, are poised to endow the Squamish people with unprecedented wealth and influence

One day in the not-so-distant future, the community that includes Vanier Park, the Kitsilano Indian Reserve, and the adjacent streets around Burrard Street to 1st Avenue to Creekside Park will be described as the Sen̓áḵw neighbourhood of Vancouver.

Using a hand-carved tool that was traditionally used for digging post holes for houses, Squamish Nation Chairperson Khelsilem broke ground Tuesday on an 11-acre development site flanking the Burrard Bridge. When completed, a new community called Senakw will feature more than 6,000 mostly rental homes spread across 11 towers.

The government of Canada will help finance the Squamish First Nation’s Sen̓áḵw development in Kitsilano by providing a $1.4 billion low-interest construction loan. The Sen̓áḵw project is slated to be a high-density development with 6,000 homes in 11 towers, built on a four-hectare patch — equivalent to about four city blocks — of reserve land around the south end of the Burrard Bridge. The loan announced Tuesday will finance the construction of the first two of four planned phases of the project, about 3,000 homes.

The federal government is providing a $1.4-billion loan to Squamish Nation to build 3,000 homes on land that was once an ancient village that was burned and expropriated a century ago. At a groundbreaking ceremony held Tuesday, the Squamish Nation said the development is the largest Indigenous-led housing and retail development in the history of Canada.

Ian Gillespie, the Westbank Corporation CEO, accepted a token 50 cent payment from members of the Squamish Nation during a ceremony under the Burrard Bridge on Tuesday, where Prime Minister Justin Trudeau turned the sod to begin the four-phase, 11-tower Senakw condo project.

In Vancouver, Indigenous Communities Get Prime Land, and Power

A major new high-rise development in Vancouver to be built on Squamish Nation reserve land was front page news this week, with the signing of a services agreement between the Squamish and City of Vancouver. But the Squamish Nations’ 11-tower, 6,000-unit Senakw project at the foot of Burrard Street Bridge isn’t the only major residential project being developed by First Nations in Metro Vancouver.

With the traditional, unceded territory of the Sḵwx̱wú7mesh Úxwumixw (Squamish Nation) as a backdrop, Squamish Nation signed a memorandum of understanding with the City of Vancouver for a service agreement, intended to provide utilities to a planned 6,000-unit housing development on reserve land near Burrard Street Bridge.

The Squamish First Nation announced today that it has achieved a services agreement with the City of Vancouver for Senakw. While the multi-tower, mixed-use development does not need to follow the municipal government’s planning processes as it is located on the First Nation’s reserve, the development critically depends on the city to provide it with utilities connections, specifically water and storm sewer services. Additionally, the agreement stipulates “significant upgrades and investments to pedestrian, cycling, transit, and road improvements.”

Squamish First Nation members overwhelmingly voted to approve the massive development on their 12-acre Kitsilano reserve in late 2019. Thus allowing band leaders to seal the partnership with local developer Westbank and continue their work with refining the design concept.

As Squamish First Nation’s Senakw development sits within the band’s Kitsilano reserve lands, the project does not need to go through the City of Vancouver’s lengthy application process. But it still has the support of the municipal government. In response to the First Nation’s referendum Tuesday that approved the project with a landslide result, earlier this afternoon the city publicly announced its support for the project and willingness to continue discussions with the First Nation on how city staff may be engaged and, if desired, how the city can best work as a government partner.

Based on an independent analysis by Ernst & Young, over a theoretical 110-year life cycle, Senakw will generate between $16 billion to $20 billion, with the First Nation receiving 50%. These numbers are based on a mix of 70% market rental housing, and 30% leasehold market strata condominiums. For the First Nation, rental income alone would generate $8 billion to $10 billion over the entire life cycle, strata profits would bring in $290 million over the first 10 years, and the nation amenity contribution (NAC) would bring in $180 million over the first 10 years.

Based on an independent analysis by Ernst & Young, over a theoretical 110-year life cycle, Senakw will generate between $16 billion to $20 billion, with the First Nation receiving 50%. These numbers are based on a mix of 70% market rental housing, and 30% leasehold market strata condominiums. For the First Nation, rental income alone would generate $8 billion to $10 billion over the entire life cycle, strata profits would bring in $290 million over the first 10 years, and the nation amenity contribution (NAC) would bring in $180 million over the first 10 years.

Vancouver Mayor Kennedy Stewart says he supports a local First Nation's plan to build a large-scale housing project in the centre of the city. Stewart called Senakw “ a golden opportunity, both in terms of reconciliation and in providing much needed rental housing for the city”, adding that while there are no requirements for the nation to adhere to city policies, it is communicating in good faith with the city to make the project as successful and mutually advantageous as possible.