We don’t need to tell you Canada needs a lot more homes (around 3.5 million more by 2030 if you ask the Canadian Mortgage and Housing Corporation), and there’s no shortage of people talking about the problem.
But the Squamish First Nation in B.C. is actually doing something to fix it.
Catch up: Along with the 6,000-apartment Senakw development in Vancouver it announced last year, the Squamish are planning to develop more of their 350 acres of reserve land, over half of which is in Metro Vancouver.
- Because they’re building on reserve lands, the Squamish Nation can bypass much of the red tape and roadblocks that have hindered development elsewhere in Canada’s cities.
- The Musqueam, Squamish, and Tsleil-Waututh governments recently unveiled another development proposal in Vancouver that would see 13,000 new homes built.
Why it matters: The Squamish’s Senakw project alone will house 10,000 people in rental apartments on just 10.5 acres of land. The possibility of the nation developing hundreds of additional square feet should get anyone who cares about more housing excited.
- The developments will also be an enormous financial boon for the First Nation: Senakw alone is expected to generate more than $10 billion for the Squamish.
Bottom line: The Squamish First Nation is pioneering a development model that’s getting homes built now, and making a nice chunk of change to support their community along the way. We salute them.