VANCOUVER — The Squamish Nation says Vancouver-based developer Westbank Corp. has sold its entire stake in its massive Senakw housing project, which broke ground in 2022 backed by a $1.4 billion federal loan for construction.

A statement from the nation says OPTrust, which manages one of Canada’s largest pension funds, has acquired Westbank’s share in the project’s first two phases as part of a restructured partnership.

It says the move means OPTrust and the First Nation share equal ownership in Phases 1 and 2 of the multi-building development in Vancouver’s Kitsilano neighbourhood.

The nation says it has secured 100 per cent ownership in Phases 3 and 4.

It calls the move “an unprecedented step toward self-sufficiency.”

Westbank representatives did not immediately respond to a request

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