Sen̓áḵw (Squamish Nation) | 11 Towers | 171m | 58fl | 4M sqft | U/C

[jollyburger]

Move ins for T1 starts in June

“Our expectations in terms of the pricing of the homes as well as the operating costs are consistent with where we projected them a few years ago,” she said. “We underwrote and started construction in 2021/2022, and we’re still performing to where we expected the market to be.”

While the schedule of market rents has yet to be finalized, it will be geared to income. Tenants must have a monthly household income equivalent to 2.5 times their rent. “For example, if the rent is $2,200 per month, your household income must be a minimum of $5,500 per month,” according to an information package.

Affordable, non-market rents (available to Sḵwx̱wú7mesh people, Indigenous residents and non-Indigenous residents who meet income eligibility requirements) begin at $1,618 a month for a single-occupancy studio and rise to $2,585 for a three-bedroom unit accommodating three to five people.

Goodman says he’s been approached by buyers who would like to do wholesale purchases, potentially with CMHC financing if the units are designated as rentals for five to 10 years.

“If that happens, … that’s going to add more supply,” he said. “Or the developers are just going to rent them out themselves, because they don’t want take a loss but they want to wait out the storm.”

But it also means the boom times aren’t coming back any time soon, especially with the BC NDP planning to boost taxes on architectural and engineering services as well as other disincentives.

“I can’t imagine there’s going to be any catalyst that’s going to supercharge the multi-family market for years to come,” Goodman said.

This is where the long-term view Nch’ḵay̓ is able to take as part of the Squamish Nation gives it a unique perspective on the current market.

“This is a really short moment in time in terms of the completion of inventory,” Podmore Russell said. “We’re in a year and a market where we have seen some softening. But it certainly isn’t a reflection of a challenged market, it’s a reflection of a market where consumers have choice.”

Underscoring Nch’ḵay̓’s confidence in the rental market is a plan to have all units on the site revert to rental at the end of the long-term leases underpinning the initial construction agreements with Westbank Corp. and Peak Construction Group.

https://www.westerninvestor.com/british-...ced-conditions-as-supply-builds-11922385

[madog222]

T3 crane set to come down next weekend.

[kikin]

>Underscoring Nch’ḵay̓’s confidence in the rental market is a plan to have all units on the site revert to rental at the end of the long-term leases underpinning the initial construction agreements with Westbank Corp. and Peak Construction Group.

So does this mean that they expect the rental prices in the city will be up significantly by the time the leases end? Parsing all of those statements (it is a little hard to follow who is who) are they saying that due to governments making the economic viability of projects difficult that we won't see a lot of building and vacancy rates are certain to be very low in the coming decades?

[Zepfancouver]

Originally Posted by madog222

T3 crane set to come down next weekend.

This afternoon Mar 03, 2026 at 1:45pm - Pics by Me from Anchor Point 1 roofdeck - I will update tomorrow.

[jollyburger]

Maybe they'll install the last two trigons with the mobile crane? I don't think they were installed while the crane base was still next to the building.

[jollyburger]

Seems like there might be partial/full lane closures on the bridge for the crane takedown.

Expected Schedule: Mar 7, 2026 - Mar 8, 2026; Weekends; 7:00 AM - 12:00 PM

[officedweller]

Insuite pics:

https://www.instagram.com/reel/DVYApDVifWq/?igsh=MXBseGdscHMwcnhueg==

[osirisboy]

Bring back galley kitchens

[Zepfancouver]

Originally Posted by officedweller

Insuite pics:

https://www.instagram.com/reel/DVYApDVifWq/?igsh=MXBseGdscHMwcnhueg==

I like the windows in the livingroom


https://www.instagram.com/reel/DVYApDVifWq/?igsh=MXBseGdscHMwcnhueg%3D%3D

[idunno]

Looks nice!

[WarrenC12]

How many of each unit type will be ready in June? Can't wait to see these fill up.

[Zepfancouver]

Today- Mar 04, 2026 - Pic by Me

I think this is as low as they will go, They removed the last tie in anchor strut, I don't think WorkSafeBC will allow them to lower the crane anymore without the mast being anchored to the structure, mobile crane wiil do the rest. I will update the situation tomorrow.

3:45pm today (I will post the full event, once the job is completed)

[jollyburger]

Phase 2 pushed to Fall 2026.

Not sure if the winds on Saturday are strong enough for them to delay the crane dismantle until the following week.

General – All Phases
Underground services are now complete within Sen̓áḵw Lane, and curbs and paving work will proceed in March.
The work to install the new Sanitary Sewer on Pine Street to 4th Avenue continues.
Creekside Drive is in normal operation mode, and street parking has been restored along the western portion of the roadway.
Gate 1 on West 1st and Fir Street remains the primary entrance to the site for construction traffic.
Gate 2 on Chestnut Street will become an alternate site access following Tower 1 Occupancy, anticipated in March 2026.

Construction – Phase 1
District Energy Plant – Commissioning continues, boilers now providing heating.
Permanent Power energized to the main electrical rooms
Permanent City water connection commissioned for Tower 1
Tower 1 – Interiors – Final clean underway, in-fill for Level 1 storefronts and canopies underway. Balcony railings installed. All Trigon frames installed, cladding of the underside of the Trigons continues.
Tower 2 – Structure – Interiors - Drywall to Level 32, Cabinets to Level 27-29. Exterior – Curtain Wall complete. Trigons and balcony railings are underway.
Tower 3 – Structure – Interiors – Drywall to Level 39, Cabinets to Level 34. Exterior – Curtain Wall complete. Trigons and balcony railings are underway.
Roof poured on Pavilion, interior stair poured, exterior curtainwall installation begins
Towers 2 and 3 - Appliance installation in progress

Construction – Phase 2
Fall 2026

https://senakwupdates.com/construction-updates

[csbvan]

It's wild to think that by this summer we will begin to see the impacts of this substantial new influx of residents in North Kits.

[WarrenC12]

Originally Posted by csbvan

It's wild to think that by this summer we will begin to see the impacts of this substantial new influx of residents in North Kits.

Armageddon according to the NIMBYs.

[Glow Fun City]

Originally Posted by WarrenC12

Armageddon according to the NIMBYs.

photo credit: 20th Century Fox Television

[Chirpythecougar]

Any thoughts as to why Phase 2 keeps being pushed back? My understanding is that the Feds gave them a loan for Phases 1 + 2 so I would hope they can at least complete Phase 2.

[jollyburger]

Originally Posted by Chirpythecougar

Any thoughts as to why Phase 2 keeps being pushed back? My understanding is that the Feds gave them a loan for Phases 1 + 2 so I would hope they can at least complete Phase 2.

I mean even with a loan you don't want to create a bunch of product that people don't want or forces you to cut rental rates on Phase 1. When Westbank sold off their interest they said they were in the process of finishing the financing for Phase 2.

The credit union building is still for sale so I don't think that's playing a factor.

https://www.cbre.ca/properties/commercia...drive-vancouver-british-columbia-v6j-4s8

This says it's a fixed low interest loan for 10 years from CHMC

https://www.tandfonline.com/doi/full/10.1080/19491247.2025.2484043#d1e486

Back in 2019 Westbank needed to raise $3 billion for the construction financing

https://thetyee.ca/News/2019/12/04/Senakw-Westbank-Squamish-Development-Proposal-Kitsilano/

[jollyburger]

On Saturday, March 7 and Sunday, March 8, the Burrard St. Bridge will be temporarily closed to all vehicle traffic between 7 am and noon.

This morning closure is required to support the removal of a large crane at the Sen̓áḵw External website, opens in new tab development next to the bridge. The bridge is anticipated to fully reopen at noon on both days.

https://vancouver.ca/news-calendar/burrard-street-bridge-temp-closure-mar-2026.aspx

[Zepfancouver]

Originally Posted by jollyburger

Phase 2 pushed to Fall 2026.

Not sure if the winds on Saturday are strong enough for them to delay the crane dismantle until the following week.

https://senakwupdates.com/construction-updates

I just looked at it now, it is sitting there like it was yesterday, waiting for a mobile crane and favorable weather on the weekend.