North Vancouver, B.C., September 10, 2025 – Nch’ḵay̓, the economic development group of the Squamish Nation, has acquired International Plaza on Marine Drive in North Vancouver in a landmark $54.2 million deal that brings the on-reserve residential and commercial complex under the Squamish Nation’s ownership and Nch’ḵay̓’s stewardship.
Located in the Squamish Nation village of X̱wemelch’stn (Capilano IR #5), International Plaza includes 471 rental homes and more than 65,000 square feet of commercial space. Built in 1975, the property is returning to Nation ownership for the first time since its development and will be managed by Nch’ḵay̓ as part of a long-term strategy to grow a strong real estate portfolio for the Squamish Nation.
“Strengthening Squamish presence and ownership of assets on Squamish land is at the heart of this acquisition. It honours the vision of our past leaders, the dedication of Council, and our shared commitment to building lasting opportunity for the Squamish Nation,” says Mindy Wight, CEO, Nch’ḵay̓. “This is more than a real estate transaction; it is a step toward reclaiming control of our land, creating opportunities for our people, and building a future rooted in community.”
To ensure stability for residents, Nch’ḵay̓ is working with Peterson, a trusted full-service commercial real estate group, to oversee daily operations. With support from Peterson, Nch’ḵay̓ will focus on investing in capital improvements to building infrastructure, common spaces, and individual units—prioritizing health, safety, and quality of life for all who call International Plaza home.
“We’re honoured to support Nch’ḵay̓ in this important milestone for the Squamish Nation and to help support the community at International Plaza. Our focus is on ensuring residents feel at home, while providing professional property management services for today, and for the long-term,” said Barrett Sprowson, Senior Vice President of Residential, Peterson.
“As stewards of this land once again, the Squamish Nation reclaims the responsibility to shape the experience for residents by bringing a strong Sḵwx̱wú7mesh presence and cultural identity to the site,” says Jenn Podmore Russell, Chief Development Officer at Nch’ḵay̓. “Building on the momentum created at Sen̓áḵw, this acquisition further demonstrates our ability to lead large-scale initiatives that drive economic sovereignty for the Squamish People and marks real progress toward the long-term vision set out in the Nation’s 25-year Generational Plan.”
Financing for the acquisition was made possible through the Canada Mortgage and Housing Corporation (CMHC) MLI Select Program, a new multi-unit mortgage loan insurance product focused on affordability, accessibility, and climate compatibility.
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Media Inquiries: Media@nchkay.com
About Nch’ḵay̓:
Nch’ḵay̓ was established in 2018 as the economic development group of the Squamish Nation. Its mandate is to develop, manage and own the active businesses of the Nation. Wholly owned by the Skwxwú7mesh Úxwumixw (Squamish Nation), Nch’ḵay’s mission is to pursue and implement economic opportunities that create long-term wealth and prosperity for the Nation and its People, while operating in a way that upholds Nation values and cultural teachings. Learn more about Nch’ḵay̓ at nchkay.com.
About Sḵwx̱wú7mesh Úxwumixw:
Sḵwx̱wú7mesh Úxwumixw (Squamish Nation) is an innovative, modern Indigenous government dedicated to protecting its air, land and water while ensuring a healthy, sustainable economic future for all Squamish People. Squamish People have lived on the lands now known as Vancouver, North Vancouver, West Vancouver, and the Municipality of Squamish for thousands of years. The Nation traces its roots back to multiple physical communities before becoming a government entity in 1923. Today almost half the Nation’s population, of more than 4,100 Squamish People, live on urban reserves in the territory. The Nation is building its future based on its rich history, traditions, culture and land. Squamish Nation has never ceded or surrendered title to its lands, rights to its resources, or the power to make decisions within its territory. Learn more at Squamish.net.
Click here for a Fact Sheet on International Plaza.