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

[officedweller]

Originally Posted by griswold

Looks like they're starting on the bus station expansion on the bridge?

Those rebar cages have been there for a while.

[whatnext]

From last night. Does Tower 2 have occupancy or did some workers just leave the lights on?

[IMG]IMG_3964 by bcborn, on Flickr[/IMG]

my photo

[officedweller]

Just lights on - there's still fencing blocking it off.

[jollyburger]

Senakw residents get 25% off Lime scooter rentals

https://www.instagram.com/p/Db1GCKSD6zd/

Welcome Centre

https://www.instagram.com/p/DbdxW4Sm9zA/

https://www.instagram.com/p/DbbNeglt485/

50% of Tower 1 was leased (including the housing dedicated to Indigenous members) at the end of July and they said Tower 2 will have move-ins this fall.

[GenWhy?]

So 30% to 50% occupancy within a month?

[whatnext]

Originally Posted by GenWhy?

So 30% to 50% occupancy within a month?

Is that unreasonable given they said had thousands of people register with them?

[WarrenC12]

Originally Posted by whatnext

Is that unreasonable given they said had thousands of people register with them?

Even occupancy of new strata buildings of that size takes about 2 months.

[jollyburger]

They had 105 move-ins at the time (out of around ~400 units)

Detailed numbers

As of July 1, 109 leases have been signed and 67
residents have moved in, with 41 units leased to
Squamish and other Indigenous People. Demand
remains strong, with 855 tours completed and 251
applications received.

Leasing for sméṅhem, Tower Two, is expected
to begin once Tower One reaches approximately
70 per cent occupancy. Squamish People and
Indigenous applicants will continue to receive
priority access.

https://www.nchkay.com/wp-content/uploads/2026/07/Nchkay-Quarterly-Update-Summer-2026.pdf

[whatnext]

Originally Posted by WarrenC12

Even occupancy of new strata buildings of that size takes about 2 months.

Interesting. Given the units are mostly small you think it would go faster.

Anyone recall off the top of their head how many elevators each tower has?

[WarrenC12]

Originally Posted by whatnext

Interesting. Given the units are mostly small you think it would go faster.

Anyone recall off the top of their head how many elevators each tower has?

How does that impact anything? It's about elevator access mostly, and the ability of people to move mid-month, etc.

[whatnext]

Originally Posted by WarrenC12

How does that impact anything? It's about elevator access mostly, and the ability of people to move mid-month, etc.

Smaller units = less furniture = faster move-ins.

[Lexus]

• Video Link

[whatnext]

Originally Posted by jollyburger

They had 105 move-ins at the time (out of around ~400 units)

Detailed numbers

https://www.nchkay.com/wp-content/uploads/2026/07/Nchkay-Quarterly-Update-Summer-2026.pdf

So their leasing update says Tower 1 is now 70% leased shouldn’t they be opening up leasing Tower 2 now?

[jollyburger]

Bishop's Family Cycles is the second commercial tenant and will be in Tower 2.

200 of 333 homes moved in at the start of the month.

230 rented.

50% are Indigenous residents.

[whatnext]

Originally Posted by jollyburger

Bishop's Family Cycles is the second commercial tenant and will be in Tower 2.

200 of 333 homes moved in at the start of the month.

230 rented.

50% are Indigenous residents.

So, there were supposed to be 200 homes for Indigenous residents, does this mean only 115 took up that offer?

[jollyburger]

Over the past six months, there have been significant changes to the Sen̓ áḵw
Development’s partnership structure. The result of those changes, coupled with difficult national
and local rental market conditions, is that Phase 1 completion and lease out is now not projected
to occur until 2028. Phase 2 has also been delayed. Based on the most current information
provided by the Developer, CESLP understands that Phase 2 completion will occur no earlier
than 2031.

https://docs.bcuc.com/documents/proceedi...ration-of-order-g-149-26-application.pdf

[whatnext]

So in other words, leasing there isn’t going well.

[jollyburger]

Originally Posted by whatnext

So, there were supposed to be 200 homes for Indigenous residents, does this mean only 115 took up that offer?

Only 63 of the 250 Hiyam homes are available in three towers for Phase 1. They just probably rented the "affordable" units to go above the ~20 units in T1.

[djh]

Originally Posted by jollyburger

https://docs.bcuc.com/documents/proceedi...ration-of-order-g-149-26-application.pdf

That's very surprising, what with the desirability of the location and the huge demand for good new apartments there.

What's the problem? Bad suite design? High asking prices? I would have thought there would be more demand than supply, unless they're asking silly numbers to live there.

[cvagts]

Originally Posted by djh

That's very surprising, what with the desirability of the location and the huge demand for good new apartments there.

What's the problem? Bad suite design? High asking prices? I would have thought there would be more demand than supply, unless they're asking silly numbers to live there.

both, but mostly prices

"The prices — posted online by Vancouver real estate journalist Howard Chai and others — included $9,070 per month for a three-bedroom, two-bathroom unit."

https://www.cbc.ca/news/canada/british-columbia/senakw-rental-prices-backlash-9.7248096

You can get a house in the same neighbourhood for twice the size, with a double garage, yard, for 30% less.