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September 11.2025

2 Minutes Read

Squamish Nation's $54 Million Acquisition: A Bold Move Reclaiming North Vancouver

Modern high-rise acquisition by Squamish Nation in North Vancouver.

A New Chapter for the Squamish Nation

The Squamish Nation has made a significant stride in reclaiming its heritage by acquiring the International Plaza complex located at 1989 Marine Drive in North Vancouver for $54.2 million. This acquisition is not just a financial transaction; it's a powerful move towards reclaiming control over traditional lands and building sustainable opportunities for their community.

Understanding the Impact of This Acquisition

The International Plaza, established in 1975, spans over 2.5 acres and comprises 471 rental homes alongside more than 65,000 square feet dedicated to commercial space. This includes prominent establishments such as Staples. With the return of this property to the Squamish Nation, it marks an important moment in their history, bringing about a sense of ownership that has been absent since the site's initial development.

Bridging the Past and Future

Mindy Wight, CEO of Nch’ḵay̓ Development Corporation, emphasizes that this acquisition aligns with the vision set by past leaders. “This is not just about real estate; it’s about creating legs for our community and ensuring that we’re rooted in strong partnerships,” she affirmed. The partnership with local developer Peterson aims to improve the living conditions and infrastructures, thus enhancing the tenant experience.

Boosting Economic Sovereignty for the Squamish People

The acquisition has been facilitated by support from the Canada Mortgage and Housing Corporation, signifying government backing for Indigenous economic development. Chief Development Officer Jenn Podmore Russell highlighted that this move builds on the progress made through the Sen̓áḵw project and strengthens the path towards economic independence for the Nation.

A Catalyst for Future Developments

With the successful purchase of International Plaza, the Squamish Nation sets a strong precedent for future initiatives, such as the conditional acquisition of the nearby Central 1 Credit Union office building. These initiatives herald a new era of self-sufficiency and growth, showcasing the potential for Indigenous-led developments across the region.

As we watch the Squamish Nation re-establish its footprint in North Vancouver, it becomes clear that this acquisition is a powerful statement of resilience and a testament to the strength of community ownership and economic empowerment.

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