Thursday, June 26, 2025
Malahat Nation and Cowichan Tribes on Vancouver Island are receiving a combined $66.7 million in loans to enable on-reserve housing construction and business development.
Funding for both projects comes from the Canada Infrastructure Bank’s Indigenous Community Infrastructure Initiative (ICII). The CIB has committed more than $1 billion to date on projects for and in partnership with Indigenous communities.
Malahat Nation’s access to a $57.8-million loan will help fund the replacement of a 28-year-old water treatment plant that is at capacity and build a new wastewater treatment plant to replace failing septic beds.
Increased water capacity will enhance emergency preparedness while the new wastewater system will better protect local ground water, the ecosystem and shellfish beds in Saanich Inlet.
The CIB’s investment will amplify $15.8 million in contributions from Indigenous Services Canada to further unlock the development of Malahat’s primary reserve lands, located 25 kilometres northwest of Victoria, enabling new housing and economic development opportunities. Planned developments include a multi-residential project with over 200 units, a building for Thales (west coast home of Department of National Defence AJISS Program) and a battery plant.
An $8.9-million loan from the CIB to a Khowutzun Development Corporation (KDC) project, in partnership with BC Housing through the Province’s BC Builds program, will support enabling infrastructure for the Rivers Edge development. KDC, which is wholly owned by Cowichan Tribes, developed this on-reserve project that includes two rental buildings, commercial space, an outdoor kitchen, children’s play area and community gardens.
The CIB’s investment unlocks the opportunity to build the 200-home development on Cowichan Tribes’ reserve lands by financing new infrastructure such as site preparation, utility upgrades and connections, roads and streetscaping, and electric vehicle charging stations.
“The CIB’s two investments on Vancouver Island will help First Nations build much-needed housing to welcome off-reserve citizens home. The Malahat Nation water and wastewater project underscores the importance of speeding up development timelines for projects that have outsized positive impacts – even in small communities. Enabling infrastructure will allow the Cowichan Tribes to build much-needed housing for their citizens and the broader community,” said Ehren Cory, CEO, Canada Infrastructure Bank.
Rivers Edge is being celebrated as a model of collaborative partnership, overcoming challenges in securing funding from multiple sources. The project is part of Cowichan Tribes’ economic development strategy through KDC and prioritizes the needs of its citizens—who will have the first right of refusal for all homes in Rivers Edge, including the 20% of homes at Rivers Edge that will be rented at below-market rates.
The broader development will also generate career and training opportunities for Cowichan Tribes citizens and other First Nations through KDC initiatives such as Cowichan Contractors — a group of 100% Indigenous-owned Cowichan Tribes companies offering services like site servicing and excavation.
Economic benefits generated by the project will be reinvested into the community, supporting long-term prosperity.
