The CEO of the Squamish Nation’s economic development arm is touting the progress of the Sen̓áḵw real estate development surrounding Vancouver’s Burrard Street Bridge.
Addressing an Indigenomics Institute conference Wednesday at the H.R. MacMillan Space Centre, not far from the bridge, Mindy Wight said it takes decades for First Nations to build their economic development groups and businesses, so the Sen̓áḵw project is on the cusp of making history.
“The first three towers are now visible on the city skyline. It’s fantastic. It took years off my life,” she said.
Nch'ḵay̓ Development Corp. was created in 2018 by the Squamish Nation’s council after many years of planning, involving the exploration of different businesses and governance models. With an executive team supported by a board of seven directors, the company is now at the “forefront” of economic reconciliation in Canada, Wight said.
Her remarks provided updates on some of the company’s key economic reconciliation initiatives:
- Cedar Leaf Capital Inc., a partnership announced in February 2024 between Nch'ḵay̓, Scotiabank, Des Nedhe Financial LP and Chippewas of Rama First Nation. Cedar, a new investment dealer, aims to foster greater Indigenous participation in Canadian capital markets through employment and commercial opportunities. Already involved in several syndicates since receiving regulatory approval in October, the company will open doors for Indigenous communities and others to access tailored financial advice, build capital and drive economic development. “It’s very exciting, it’s Indigenous majority-owned and it’s the first in Canada,” Wight said.
- Oceanfront Squamish, a partnership created in 2013 between Matthews West Ltd. and the Squamish Nation. The waterfront development is expected to yield over 2,500 new homes, with a presentation centre coming soon. “Our Nch'ḵay̓ team supports the Nation through managing the Nation’s interest in the partnership activities, and works closely with our development partner,” Wight said.
- The Cheekeye River Development, also with partner Matthews West. In June 2024, Matthews West and the Squamish Nation announced the approval of the creation of a critical debris barrier by the District of Squamish. “The new structure will protect over 1,200 existing homes and facilitate the future development of much-needed housing in the area,” Wight said.
- Sen̓áḵw, which is planned to consist of 11 towers providing approximately 6,000 housing units at the south end of the Burrard Street Bridge on Squamish Nation land. Developed with partners Westbank Corp. and Peak Construction Group, the first tenants are expected to move in later this year or in early 2026. “Our procurement business has worked closely with our partners to ensure Squamish and Indigenous employees are a top priority for working on the site,” Wight said.
“The Oceanfront and Sen̓áḵw developments are prime examples of how Nch'ḵay̓ and the [Squamish] Nation are transforming the landscape of Indigenous economic participation in real estate,” she said.
Wight said economic self-determination requires further work in five key areas: education and skills training; access to capital; partnerships and collaboration; policy and advocacy; and resilience.
