The Squamish Nation has announced a restructured partnership that marks a major milestone in the Sen̓áḵw development now taking shape at the entrance to False Creek.
Sen̓áḵw is a sprawling multi-phased project planned for 10.5 acres near the western end of the Burrard Bridge. It is set to include over 6,000 new homes and was given a $1.4 billion loan by the Government of Canada in 2022, which remains the largest loan ever granted by the CMHC.
OPTrust, one of Canada’s largest pension funds, has increased its ownership stake to 50%, acquiring Westbank’s interest in the first two phases of the project. The Nation retains the remaining 50% share in Phases One and Two and will hold full ownership of Phases Three and Four.
“Today, we are celebrating OPTrust’s increased commitment to the Sen̓áḵw development, a project that represents a significant step in the return of Squamish People to our ancestral village,” said Squamish Nation spokesperson and councillor Sxwíxwtn Wilson Williams.
Construction has reached a visible high point, with all three towers in Phase One now topped out at 27, 32, and 40 storeys. Scheduled to open in 2026, the towers will provide more than 1,400 new rental homes to Vancouver’s tight housing market. Residents will also see retail spaces, green areas, and public art celebrating Squamish cultural identity.
A three-storey pavilion is planned as a community hub featuring a gym, pool, wellness centre, and social lounge. Car-sharing programs, a transit hub, and other sustainable design elements align with the Nation’s long-term Squamish 2050 Generational Plan, which emphasizes sustainability, prosperity, and cultural stewardship.
Last modified: August 29, 2025
