B.C. and First Nations Partner to Offer 2,600 Affordable Condos in Vancouver

New agreement will see homes sold at 60% of market value, prioritizing first-time buyers with government-backed financing.

The partnership involves the Musqueam, Squamish, and Tsleil-Waututh Nations, along with the B.C. government and Canada Lands Company.
The Heather Lands development will feature 2,600 homes, including one-, two-, and three-bedroom units on 99-year leases.
Eligible buyers must meet income and asset criteria, with priority given to first-time homebuyers.
The provincial government will finance 40% of the market value, to be repaid upon resale or after 25 years.
The initiative aims to make homeownership accessible to middle-income families and address housing affordability in Vancouver.