Westbank sells stake in massive Squamish Nation housing development in Vancouver

B.C. developer Westbank sells stake in Squamish Nation housing project

Ontario government employees’ pension fund will be a 50-50 partner with the Nation for the first two phases of the Vancouver project

From half to none: Westbank sells stake in massive Squamish Nation housing development in Vancouver

One of Canada’s largest pension funds with net assets of over $26 billion, has acquired Westbank’s share.

Westbank sells stake in massive Squamish Nation housing development in Vancouver

VANCOUVER — Developer Westbank Corp. has sold its entire stake in the Squamish Nation's massive Senakw housing project, which broke ground in Vancouver in 2022, backed by a $1.4 billion federal loan for construction.

Westbank sells stake in massive Squamish Nation housing development in Vancouver - The Turtle Island News

By Brenna Owen Developer Westbank Corp. has sold its entire stake in the Squamish Nation’s massive Senakw housing project, which broke ground in Vancouver in 2022, backed by a $1.4 billion federal loan for construction. The nation issued a statement Thursday saying OPTrust, which manages one of Canada’s largest pension funds, had bought out Westbank’s stake, increasing OPTrust’s ownership in the first two phases of the development to 50 per cent…

OPTrust Buys Out Westbank From Sen̓áḵw Project By Squamish Nation

OPTrust previously held a stake in the first two phases of the landmark Sen̓áḵw project and has now acquired Westbank's stake in the project, increasing its stake to 50%.

Sen̓áḵw continues to grow stronger - Squamish Nation

The Sḵwx̱wú7mesh Úxwumixw (Squamish Nation) is pleased to announce that OPTrust— one of Canada’s largest pension fund investors — has acquired Westbank’s ownership stake in Sen̓áḵw for Phases One and Two of the project.