(Project acceleration)
Advancing planning and early development work to accelerate a master-planned First Nation community extension
The CIB is cost-sharing and acting as an advisor on proposed enabling infrastructure works which will facilitate new housing and community spaces.
Fast facts
The Canada Infrastructure Bank (CIB) is providing Snuneymuxw First Nation (SFN) with a $2.6 million project accelerator financing, to share in the risk and cost of development, to advance planning and due diligence work for the development of the Te’tuxwtun lands.
On lands recently returned to Snuneymuxw First Nation, the Te’tuxwtun lands are in located Snuneymuxw, (Nanaimo, British Columbia) next to Vancouver Island University and encompasses approximately 198 acres.
The proposed development will consider the local stakeholder interests of City of Nanaimo and Vancouver Island University. The proposed project includes a new multi-purpose development to benefit SFN, its members, and future generations. The master plan includes on-reserve housing to address shortages for SFN members. The development proposal aims to bring open public spaces, with a mix of commercial, educational and community spaces, in a way that respects and enhances the land.
Benefits of CIB Involvement
Large infrastructure projects take many years to plan and develop and are often delayed due to limited availability of funding. Accelerator financing from the CIB is expected to help finalize development costs and project scope to advance the project to a shovel-ready state.
Learn more
- Snuneymuxw First Nation - Opens in a new tab
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