Thousands of first-time home buyers will have the opportunity to purchase a home at an initial 40 per cent below market value at the Heather Lands in Vancouver, through an innovative financing initiative that xʷməθkʷəy̓əm (Musqueam), Sḵwx̱wú7mesh (Squamish), and səlilwətaɬ (Tsleil-Waututh) (MST) Nations delivered in partnership with the province of B.C.
The Attainable Housing Initiative (AHI or Initiative) will see approximately 2,600 homes being built at the Heather Lands, a 21-acre site located between West 33rd Avenue and West 37th Avenue at Heather Street in Vancouver. The Initiative was proposed by the MST Nations as a meaningful way for the Nations to harness economic, cultural and social benefits from their land holdings by strategically partnering with other levels of government.
“Ten years ago, Musqueam, Squamish and Tsleil-Waututh signed groundbreaking agreements that led to our Nations working together to regain ownership of several properties within our shared territories,” said xʷməθkʷəy̓əm (Musqueam) Chief Wayne Sparrow. “This relationship has evolved, and we are proud to collectively introduce this new initiative that will ease the housing crisis faced by our members and the general public.”
The initiative will allow for studio, one-, two- and three-bedroom 99-year strata leasehold homes to be initially purchased and financed by middle-income earners at below-market prices through a 60/40 purchase financing arrangement.
The partnership will include MST Nations providing the land and the government of B.C. contributing up to $672 million, which is expected to be repaid by purchasers to the province under the initiative. The province will reinvest returned funds into future provincial programs, which may include housing.
“This new MST collaboration is an innovative and distinctly Indigenous approach to development, that will make home ownership significantly more accessible to those who live in our shared territories,” said Sxwixwtn, Wilson Williams, Sḵwx̱wú7mesh Úxwumixw spokesperson and council member. “We are proud that the MST Nations can offer a unique solution to the affordable housing crisis now facing Vancouver.”
Since 2014, the Heather Lands site has been part of a joint venture between the MST Nations and Canada Lands Company, a self-financing, federal Crown corporation specializing in real estate and development. A comprehensive planning program of the site began in 2016, jointly overseen with the City of Vancouver’s planning department.
“As the host First Nations within Vancouver, we have always welcomed people to our shared territories, and in our culture being a good host matters,” said səlilwətaɬ (Tsleil-Waututh Nation) Chief Jen Thomas. “This initiative is our way of aligning our cultural values of caring for all the people that choose to live in our territories, while also delivering economic benefits to our communities and the next seven generations. We are all in this together and I think this is the start of something very special.”
Under the plan, prospective buyers could be able to register and confirm their eligibility as early as spring 2025. First-time homebuyers and people who do not own any property will be prioritized.
“First Nations are important partners in tackling some of the biggest issues of our time, from climate change to housing, and Musqueam, Squamish and Tsleil-Waututh Nations are showing real leadership through the Heather Lands housing development,” added Murray Rankin, minister of indigenous relations and reconciliation. Not only will this benefit people of British Columbia and Vancouver, but it also creates a space for Indigenous art, architecture and design in Vancouver’s landscape, creating healthy communities and economic opportunities where we can all feel the benefits now and in the future.”
