CIB providing $66.7 million in loans to Malahat Nation and Cowichan Tribes
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Enabling infrastructure and water and wastewater treatment to facilitate on-reserve housing and economic development
Addresses community housing shortages and affordability
First Canada Infrastructure Bank (CIB) projects on Vancouver Island to achieve financial close
COWICHAN, BC, June 25, 2025 /CNW/ - 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.
Construction underway at Cowichan housing project. (CNW Group/Canada Infrastructure Bank)
Malahat (CNW Group/Canada Infrastructure Bank)
Khowutzun Development (CNW Group/Canada Infrastructure Bank)
ISC (CNW Group/Canada Infrastructure Bank)
BC (CNW Group/Canada Infrastructure Bank)
CIB (CNW Group/Canada Infrastructure Bank)
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
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.
Endorsements
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.
Ehren Cory, CEO, Canada Infrastructure Bank
Today marks a significant step forward — not just for this project, but for the well-being of our entire community. The CIB's investment in these developments will help deliver a modern, reliable water and wastewater infrastructure. These next steps are vital in creating a brighter future for the next generations, bringing both meaningful employment and the much-needed housing our Nation deserves.
Chief Gordon Harry, Malahat Nation
As the largest First Nation in BC by population with more than 5,500 citizens, the need for housing for our families is acute. However, there are many complex challenges to building on-reserve housing. I commend KDLLP for the unique partnerships and collaboration they have fostered with the Province of BC, BC Housing, and the Canada Infrastructure Bank to build these 200 new homes. Today marks a milestone for not only this project, but for our community. This major housing development will transform the lives of the residents who will live here, at the edge of the Quw'utsun Sta'lo' (Cowichan River) which has sustained our people physically and spiritually for millennia.
Chief Sulsulxumaat Cindy Daniels, Cowichan Tribes
As a nation of builders, it's time to build Canada stronger. The CIB's investments in these projects will provide new, modernized wastewater infrastructure, enabling the construction of new homes for hundreds of people in the Malahat Nation and Cowichan Tribes. These important investments will unlock new opportunities for growth, economic development, and help build stronger, more prosperous communities across Vancouver Island.
Hon. Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada
The health of a community's water source is a clear indicator of the community's overall well-being. Today's announcement is about more than a new facility; it's about building sustainable infrastructure that will meet both the immediate and long-term needs of the community. Malahat Nation and Cowichan Tribes are moving towards a future defined by progress and strength.
Hon. Mandy Gull-Masty, Minister of Indigenous Services
Today's announcement shows how powerful partnerships can be. As the Member of Parliament for Esquimalt—Saanich—Sooke, I am especially proud to see projects that provide key building blocks for economic and community growth on Vancouver Island.
Hon. Stephanie McLean, Secretary of State for Seniors.
It's crucial that Indigenous people in B.C. have housing that reflects their needs and values. That's why we're working in partnership with First Nations, non-profits, and all levels of government to fast-track more rental homes. Through Rivers Edge, members of the Cowichan Tribes and people from the broader community will be able to find an affordable home in the community they love, close to family, friends and Elders. We'll keep working with our community and government partners to build stronger neighbourhoods with the services people count on.
Hon. Ravi Kahlon, Minister of Housing and Municipal Affairs
The Cowichan Valley is an extraordinary place, filled with a rich history passed down from our Hul'qumi'num ancestors. Rivers Edge will help many long-time Duncan residents and Tribes members to stay in the community, including the Elders who teach us and young adults who grew up here. Tribes members will have more opportunities to thrive on our traditional territory, and all residents will be able to stay close to family and loved ones.
Debra Toporowski, MLA for Cowichan Valley
Today represents the combined efforts of KDLLP, Cowichan Tribes, the Province of B.C., and the Canada Infrastructure Bank — a true testament to the power of collaboration and community. Our team of architects and engineers has delivered an inspired design that reflects the deep significance of the Cowichan River, the land, and the central role family plays in the lives of Cowichan Tribes citizens. Rivers Edge will provide much-needed housing for Cowichan Tribes and the wider Cowichan Valley, creating a positive legacy that will serve generations to come.
Renée Olson, CEO, Khowutzun Development Corporation
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