Much of this speed is due to Senakw being on reserve land, which is exempt from the municipal approvals, zoning restrictions, and policies of the City of Vancouver.<\/p>\n
However, prior to the start of construction, the First Nation and the City reached an extensive services agreement<\/a>, which outlined the expected scope and size of the development, the utilities and services (sewerage and water connections, and sanitation and emergency services) that will be provided by the municipal government, and the transportation and other infrastructural upgrades that will be funded and completed by the First Nation. Senakw is following the provincial government\u2019s BC Building Code, with fire safety standards aligning to those established by the Vancouver Building Code.<\/p>\n Phase 1 (Tower 1, Tower 2, and Tower 3 from right to left) of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Phase 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Phase 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 2 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 2 and Tower 3 are now in the final stages of construction, with full completion slated for later in 2026, while the finishing touches are currently being made to Tower 1.<\/p>\n This milestone represents the completion of the first residential tower in Canada\u2019s largest Indigenous-led residential development, and the contemporary re-emergence of a village that First Nations leaders say was interrupted for generations.<\/p>\n Standing on the 26th floor rooftop of the completed Tower 1 overlooking the mouth of False Creek and English Bay, the executives of Nch\u2019\u1e35ay\u0313 Development Corporation \u2014 the economic development company of the Squamish Nation \u2014 described the moment as symbolic and deeply personal.<\/p>\n \u201cWe\u2019re feeling incredibly proud to be here,\u201d said Brandi Halls, executive vice president of brand, marketing, and community engagement for Nch\u2019\u1e35ay\u0313, during an interview with Daily Hive Urbanized this morning.<\/p>\n \u201cThis village has been at least 100 years in the making, and we\u2019re here this week.\u201d<\/p>\n \u201cIt\u2019s profound pride and honour,\u201d echoed Jacob Lewis, the director of community development for Nch\u2019\u1e35ay\u0313.<\/p>\n The lands adjacent to the Burrard Street Bridge were once home to a village of the First Nation before residents were removed by government in the early 20th century. The site remained disconnected from the First Nation for decades, before the 10.5-acre reserve was formally established in 2003 following a lengthy legal battle.<\/p>\n Lewis credited generations of Squamish Nation leadership and community members who envisioned reclaiming and redeveloping the site long before construction began.<\/p>\n \u201cOur leadership and our ancestors, some of them that aren\u2019t here with us now, really had a vision for what this could be,\u201d Lewis told Daily Hive Urbanized.<\/p>\n Jacob Lewis; Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n That vision \u2014 designed by local firm Revery Architecture \u2014 is now visible in the form of the beginnings of a striking new skyline south of the Downtown Vancouver peninsula, framing the entrance to False Creek.<\/p>\n Tower 1, the westernmost building fronting Chestnut Street, reaches a height of 291 ft. with 27 storeys. The first phases\u2019s remaining buildings of Tower 2 reach 297 ft. with 32 storeys and Tower 3 with 370 ft. with 40 storeys.<\/p>\n \u201cWe definitely like to say that Senakw is unmistakably Squamish,\u201d said Halls.<\/p>\n \u201cYou drive over that Burrard Street Bridge, you see the trigons on the side of the building. We are really proud that people from afar will know that this is a Squamish village, and it\u2019s a Squamish village that welcomes all.\u201d<\/p>\n Leasing interest has been strong, according to the project team<\/p>\n As Tower 1 opens this week, according to the project team, leasing demand appears strong despite a highly challenging rental housing market across Metro Vancouver due to a wave of new purpose-built rental housing completions that first began in 2025 and will continue through 2027, along with structural economic challenges provincially and nationally, and the federal government\u2019s immigration policy changes.<\/p>\n When Senakw was first publicly unveiled and approved by Squamish Nation members in a 2019 vote, the project was conceived at a time when Metro Vancouver faced a severe shortage of purpose-built rental housing, with relatively few major developments in the construction pipeline contributing to a vacancy rate hovering below one per cent, intense competition among prospective renters, and an upward pressure on rents.<\/p>\n According to Halls, roughly 17,000 people have already registered their interest in living at Senakw. However, when asked, they were unable to elaborate on the percentage of the homes in Tower 1 that have already been leased.<\/p>\n Tower 1 contains 333 market rental homes and 67 below-market rental homes, which are prioritized for the First Nation\u2019s members. When Tower 2 and Tower 3 are also ready, the first phase will have a combined total of roughly 1,400 purpose-built rental homes, including about 280 below-market rental homes.<\/p>\n There is a phased approach of releasing the newly-built homes in Senakw\u2019s first phase, beginning with Tower 1 before focusing on filling Tower 2 and Tower 3.<\/p>\n \u201cWe are releasing our homes in phases,\u201d Halls told Daily Hive Urbanized. \u201cOf course, we started by welcoming the Squamish people home first.\u201d<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n After previously prioritizing Squamish Nation members, leasing expanded to the broader Indigenous community.<\/p>\n This week, the project began its release of the first market rental homes, beginning with Kitsilano residents and neighbours. As well, they have invited some nearby residents to be among the first members of the general public to tour the newly-built first tower.<\/p>\n This approach reflects a deliberate emphasis on neighbourliness and inclusion.<\/p>\n \u201cWe\u2019re starting actually, again, local and inviting our Kitsilano neighbours, friends and family and residents in to tour Senakw and to express their interest in living here as well,\u201d said Halls.<\/p>\n As well, a temporary small modular pavilion structure will be constructed at Vanier Park as a welcome centre<\/a> to provide more information about the development and help market the rental homes. It will front Chestnut Street and the new access roadway built for the project.<\/p>\n The rental rates for Senakw\u2019s first tower<\/p>\n To provide renters with certainty, given that the site is on reserve, the same protections of the provincial government\u2019s British Columbia Residential Tenancy Act (BCRTA)<\/a> have been adopted by Squamish Nation for Senakw and all of their other future on-reserve residential developments elsewhere. Toronto-based firm Fitzrovia will provide rental management services for the project. The First Nation\u2019s non-profit housing operator, Hiy\u00e1m Housing, is overseeing the below-market rental housing component.<\/p>\n Halls said market rents currently begin at approximately $1,600 per month for studio units, $2,200 per month for one-bedroom units, and $3,500 per month for two-bedroom homes, with pricing varying depending on the location within Tower 1.<\/p>\n In terms of real unit size, the rental homes are very roughly 300 sq. ft. for studio units, 400 sq. ft. to 550 sq. ft. for one-bedroom units, and 600 sq. ft. to 650 sq. ft. for two-bedroom units. The floor plans vary considerably due to the irregular shape of the towers.<\/p>\n The project also includes a limited number of three- and four-bedroom units, but pricing for those rental homes has not yet been publicly released.<\/p>\n While the handful of varying rental home configurations toured by media today were furnished for staging purposes, the rental homes offered Senakw are not furnished.<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n This is a central and highly attractive location, within very close proximity to parks, the seawall pathway, beaches, and Granville Island, as well as Downtown Vancouver and the Central Broadway corridor \u2014 all by walking, cycling, or a short bus ride. As a car-light project, Senakw provides very limited on-site vehicle parking within its underground levels, but there is ample secured bike parking.<\/p>\n The homes fronting the west feature expansive views of English Bay, the Downtown Vancouver skyline, and the mountains.<\/p>\n \u201cWith these incredible views, we like to say that from up here, you literally see where the ocean meets the city and the mountains all in one view,\u201d said Halls.<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Residents will have access to ample shared amenity spaces, including indoor and outdoor amenities on the tower rooftops \u2014 ample seating, barbecues, yoga areas, and gathering spaces.<\/p>\n But one of the most ambitious amenity components currently remains under construction: a three-storey, 25,000-sq.-ft. wellness pavilion, including an indoor swimming pool, hot tub, sauna, steam room, cold plunge, and 10,000-sq.-ft. fitness gym, as well as co-working areas. Altogether, phase one offers over 36,000 sq. ft. of shared indoor and outdoor amenity facilities.<\/p>\n In addition to the shared amenities, many of the residential units also feature a private patio, which have an installation pattern that significantly adds to the exterior architecture of the towers.<\/p>\n Checking out the views of Vanier Park, English Bay, the Downtown Vancouver skyline and the mountains from #Senakw<\/a>‘s first rental homes. #vanpoli<\/a> #vanre<\/a> 2\/5https:\/\/t.co\/oqPahtiuHU<\/a> pic.twitter.com\/rsiWKsV9Dm<\/a><\/p>\n \u2014 Kenneth Chan (@iamkennethchan) May 27, 2026<\/a><\/p>\n Tower 2 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Concept of the wellness pavilion of Senakw\u2019s first phase. (Senakw project team)<\/p>\n Concept of the wellness pavilion of Senakw\u2019s first phase. (Senakw project team)<\/p>\n Concept of the wellness pavilion of Senakw\u2019s first phase. (Senakw project team)<\/p>\n Extensive Squamish Nation design considerations<\/p>\n The development also incorporates extensive Indigenous art, language, and cultural storytelling throughout the site.<\/p>\n Lewis highlighted contributions from multiple Squamish Nation artists integrated directly into the architecture, interior space, public space, and landscape design, including swimming pool tile work by artist Marissa Nahanee. He described the art program as a reflection of the First Nation\u2019s relationship to the land and the historical ecology of the area.<\/p>\n He said the project is designed to reconnect residents and visitors with the cultural history of the site while embedding Squamish Nation identity into every layer of the development.<\/p>\n \u201cAll of that is just a recognition of our connection to our ancestors and, you know, who we are as Squamish people. So it\u2019s very, very important to this project,\u201d said Lewis.<\/p>\n Unlike some master-planned developments, Senakw\u2019s footprint has been intentionally designed to remain publicly accessible, with a public realm integrated with the surrounding neighbourhoods. Lewis said approximately 60 per cent of the development on reserve consists of publicly accessible space.<\/p>\n Most of the ground-level commercial space to serve the critical mass of residents is slated for Senakw\u2019s future phases, but the first phase will still introduce an important retail presence to the emerging village. Four retail\/restaurant units at the base of the first three towers are intended to help animate the surrounding plaza areas, with Squamish Nation design influences extending beyond the architecture itself into details such as stencil-like concrete imprints, landscaping elements, and custom street furniture. Marcus & Millichap began seeking potential tenants for nearly 20,000 sq. ft. of retail\/restaurant space earlier this year.<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Tower 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Phase 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Phase 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Phase 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n Phase 1 of Senakw, as seen on May 26, 2026. (Kenneth Chan)<\/p>\n There\u2019s still so much to come<\/p>\n New transportation infrastructure is another major component of the broader vision.<\/p>\n New public transit hub and cycling connections between Senakw, the broader neighbourhood, and the south end of the bridge deck are planned to integrate the site directly into Vancouver\u2019s transportation network.<\/p>\n Some progress on realizing the new pedestrian and cycling pathways<\/a> \u2014 seamlessly connecting the bridge\u2019s existing pathways and Senakw\u2019s active transportation pathways \u2014 and the TransLink bus hub on the bridge deck<\/a> is expected for next year.<\/p>\n \u201cBeing able to ride your bike across the bridge, directly off the bridge into our bike parkade,\u201d Halls told Daily Hive Urbanized. \u201cThat is really going to increase the accessibility of our community to all of Vancouver.\u201d<\/p>\n Although Tower 1 is now largely ready, construction across the broader development of the first phase continues.<\/p>\n Tower 2 is now expected to reach full completion around September 2026, while Tower 3 is anticipated to finish by December 2026.<\/p>\n Further phases are already entering planning stages, supported in part by the $1.4-billion, low-cost loan from Canada Mortgage and Housing Corporation (CMHC) tied to the first phase and second phase<\/a>. That loan was announced on-site by then-Prime Minister Justin Trudeau in September 2022<\/a>, when major construction work on the first phase also began.<\/p>\n The Squamish Nation\u2019s ownership partners have also changed considerably from the project\u2019s outset. In Summer 2025, it was announced that local developer Westbank had sold its entire ownership stake in the Senakw project<\/a>. The deal saw OPTrust increase its ownership stake to 50 per cent, acquiring Westbank\u2019s remaining interest in the first phase now reaching construction completion and the future second phase. The First Nation owns 50 per cent of the first phase and future second phase, and 100 per cent of the future third and fourth phases.<\/p>\n Lewis said lessons learned from the first phase will shape the remaining three phases of Senakw.<\/p>\n \u201cWe\u2019re starting to step into the planning and the design conversations,\u201d he said. \u201cA lot of it, looking and reflecting on this tower or this phase, to make sure that we\u2019re picking up on lessons learned, things that we can continue to improve.\u201d<\/p>\n Excavation and site preparation for the second phase immediately to the east of the bridge and north of the former Molson Coors brewery<\/a> previously started. Major construction activity on the second phase could get underway in 2027, which would also be guided by the timelines and other requirements established by the CMHC loan.<\/p>\n Some finishing touches being made for the exterior of Tower 1 of #Senakw<\/a>.<\/p>\n Tower 2 and Tower 3, the remaining towers of the first of four phases, will be ready later in 2026. #vanre<\/a> #vanpoli<\/a> 4\/5https:\/\/t.co\/oqPahtiuHU<\/a> pic.twitter.com\/LRgF6J1VHD<\/a><\/p>\n![\"senakw](\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/05\/senakw-tower-1-may-26-2026-65.jpg\"\/ "\\"\\"")
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