Kwasen Village financing supports 355 Burnaby rental homes

Two apartment buildings in Burnaby’s Kwasen Village development are supported by a funding package announced on Sept. 10, 2026. CMHC identified 355 rental homes and more than $170 million in combined funding from the federal government and First Nations partners.

The package includes $131.9 million through the Apartment Construction Loan Program. That loan component forms part of the larger package; it is not an additional amount to add on top of the combined total.

The planned buildings consist of 91 homes in a low-rise apartment building and 264 in a high-rise. Together, those figures account for the announced 355 homes.

CMHC identified sites at 3683 Willingdon Avenue and 4428 Kwasen Way, near BCIT and Brentwood Mall. The announcement establishes project scale and financing support, rather than confirming a rent schedule or that all units are occupied.

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