One City Might Have Just Cracked the Housing Crisis

A landmark land-reallocation effort in Vancouver demonstrates how cities might crack the housing crisis by removing barriers to development. The Canadian government returned 10 acres in central Vancouver to the Squamish First Nation, where Senakw will become the densest residential neighborhood in the country, with about 6,000 homes spread across 11 towers. The first tenants moved in at the end of May, illustrating immediate housing supply in a city notoriously short of homes. Vancouver estimates it needs 83,000 new homes by 2033, and Senakw’s skyline presence serves as a rebuke to permitting delays that otherwise slow progress. The project signals a shift toward indigenous-led development on federal land and invites other cities to reconsider land-use constraints. Historically, Western coastal cities restricted growth since the 1960s while Sun Belt expansion surged, a pattern that intensified housing tensions during and after the 2008 crisis. In 2025, builders started only 78 percent of the pre-crash average, highlighting a broader supply gap that Senakw seeks to address on a significant scale.