Metro Vancouver First Nations 'buying their own land back': Thousands more housing units ready to break ground

First Nations are poised to become the next real estate development power-brokers in Metro Vancouver, with billions of dollars worth of real estate on and off reserves at their disposal.


Westbank Corp., Polygon, Aquilini and Darwin Properties all have partnerships with local First Nations to build thousands of units of housing and commercial space in Vancouver, Burnaby and West Vancouver.

“First Nations have first right of refusal when the provincial or federal government disposes of land and they are actively making those deals,” said Indigenous planner Ginger Gosnell-Myers, formerly with the City of Vancouver.

“The nations are going to buy everything, they are buying their own land back and they will develop it so that they have income security,” she said.


MST Development Corp. — a land development firm jointly owned by the Squamish, Musqueam and Tsleil-Waututh First Nations — was ranked No. 1 on Vancouver Magazine’s Power 50 list this week. The partnership is “poised to reshape the city, with a mixture of market and social housing, as well as some much-needed community contributions,” according to VanMag.

MST owns 65 hectares worth more than $2 billion, including 21 hectares at Jericho and eight hectares at 33rd Avenue and Heather Street on the west side of Vancouver.

MST recently bought a parcel in West Vancouver and the Musqueam and Tsleil-Waututh have a partnership with Aquilini Development and Construction on 16 hectares near Canada Way and Willingdon Avenue in Burnaby.

“People are still scratching their heads and rubbing their eyes wondering what it means,” said Gosnell-Myers, who is about to start a three-year fellowship with Simon Fraser University focusing on decolonization and urban Indigenous planning.


Bureaucratic inertia is holding municipalities back from properly servicing the areas around what will soon be new, high-density neighbourhoods, she said.

“The District of North Vancouver has left the Tsleil-Waututh Nation’s Raven Woods development floating like an island in the ocean with nothing around it,” she said. “Municipalities need to step up with community centres, schools, transit and all the things that make cities cities.”

Developers are increasingly looking to First Nations land as a way around a municipal development process that is mired in bureaucracy and largely failing to supply the market for housing, the industry says.

“First Nations partnerships represent a new opportunity for our home, office and industrial builders to create communities that can get built quickly with less red tape, delivering the homes people need to rent or buy now,” said Anne McMullin, CEO of the Urban Development Institute.

Only two municipalities in Metro Vancouver met their regional growth targets between 2011 and 2018, with some missing their housing goals by 80 per cent, according to an analysis by HAVAN, the homebuilders association of Vancouver.


The Squamish First Nation made headlines this week when it revealed a new vision for a five-hectare parcel at Kits Point, which includes 6,000 units of housing in 11 towers to be developed in partnership with Westbank Corp. Because the property is on reserve, the City of Vancouver has no control over how the land is developed.

The Musqueam First Nation is developing a nine-hectare parcel in the University Endowment Lands at UBC on land that was returned to its control by the provincial government, which made the Musqueam fee simple owners.

Lelem —meaning “home” — will include 1,250 rental units, commercial space and public amenities such as parks, a community centre and a daycare, according to Alex Laguardia, chief financial officer of Musqueam Capital Corporation.

The Musqueam are developing the land in cooperation with the UEL, so it, too, is beyond the control of the City of Vancouver, even though it is not technically reserve land.

The first phase includes high-rise towers with one-, two- and three-bedroom apartments and townhomes, and a retail plaza, being built by Polygon.


The Tsleil-Waututh First Nation has been butting heads with the District of North Vancouver over an 18-hectare parcel near the northern foot of the Iron Workers Memorial Bridge.

The First Nation has recently applied to Crown-Indigenous Relations and Northern Affairs Canada to have that land added to its reserve, which would allow it to control the form and scale of development independent of the district.

A new federal law allows First Nations to add lands to their reserve to advance reconciliation and create economic opportunities.


Projects built off reserve lands will be subject to the local municipality’s requirements for social housing, while on-reserve projects are not.


The Squamish Nation is considering providing some affordable units to its members at Senakw. The Musqueam say it is too soon to determine the rents at Lelem.

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What is the Home Renovation Tax Credit (HRTC) & How Can I take Advantage of It?

March 13th, 2009

The Home Renovation Tax Credit (HRTC)

·         Implemented in the 2009 Federal Government Budget

·         Is a non-refundable tax credit for work performed or goods acquired in respect to an Eligible dwelling?

·         An Eligible Dwelling is one’s principal residence, a cottage or summer home occupied personally.

·         A property you own that family members reside in during the time period from January 27th, 2009 to February 1st, 2010. 

·         Eligibility is family based.  A family is an individual and his/her spouse/common law partner including children less than 18 years of age by the end of 2009.

·         If 2 or more families own and occupy the same residence, then both families will be eligible for their own separate tax credit.

·         Eligible expenses must fall between $1,000 and $10,000.  The maximum tax credit is $1,350 (15% of $9,000).

·         The Tax Credit is ONLY for the 2009 Taxation year. 

 

What Qualifies as an Eligible Expense?

 

·         Expenses incurred with respect to a renovation must be of an enduring nature and integral to the home.

·         This includes cost of labor, professional services, building materials, fixtures, rentals and permits.

·         You MUST have documentation to prove this.  Agreements, Contracts, Invoices, or Receipts.

·         The type and quantity of goods purchased or services received must be listed.

·         The Contractor’s name, business address, gst/hst registration number as well as the address where the work was performed must be on the Documentation. 

·         Proof of Payment must be noted as well.

 

Eligible Expenses:

 

·         Renovations to a Kitchen, Bathroom or Basement.  *(appliances are not eligible nor is renovations to a tenanted basement suite in your principal residence)*

·         New Carpets or Hardwood Flooring.

·         Building of an addition, garage, deck, shed or fence.

·         Painting of the exterior and interior of your homeRe-shingling of a roof.

·         A new furnace, woodstove, boiler or water heater.

·         A new driveway or the re-surfacing of an existing one. 

·         Laying of new sod.

·         Swimming pools both in ground and above.

·         Costs of permits, equipment rentals and incidental expenses related to the renovation.

·         *If you own a condo and a special levy is approved for the upgrading of a Common Area and a special assessment is passed for this levy, you would be eligible for a tax credit based on your unit entitlement.*  Please check with your Strata Management Company, Accountant and Lawyer for specifics. 

·         Expenses are not eligible if the work performed or the goods acquired are provided by a person not dealing at arm’s length. For example, if your brother-in-law helps you re-shingle your roof and is not registered with gst/hst and you pay him in cash or cheque, then you can’t claim the expenses.

·         Renovations that qualify for the Medical Expense Tax Credit (METC) is an eligible expense and one can claim both the (HRTC) & (METC).

·         Eligible expenses will not be reduced by other qualifying Government grants or Tax Credits.

 

Please note that the above information is just a guideline and for complete details or information, please contact the CRA Canada Revenue Agency, www.cra-arc.gc.ca or speak to your Accountant prior to renovating. 

 

If you or anyone you know are thinking about Selling and wish to renovate prior to doing so, please call me for a no obligation consultation of which renovations will increase the property’s value more than others. Also, should you hear of anyone thinking of buying or selling real estate, please keep me in mind as I am never too busy for any of your referrals!

 

Regards,

 

 

 

Robert Britch

www.robbritch.com

www.vancouverbcrealestate.ca

Email:  robbritch@telus.net

Tel:  604-240-5813

Quality Service since 1993!

                                                   

 

 

Not intended to Solicit Properties Already Listed for Sale.

 

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.