The single largest private investment undertaken by a First Nation in the world could take a step forward in Vancouver next week as members of the Squamish community meet to discuss the approval of a proposed 6,000-unit residential development designed by Revery Architecture. 

If approved, the 11.7-acre development would take shape in the city's Kitsilano neighborhood on triangular site located below and around the Burrard Bridge. An updated set of renderings published by The Daily Hive showcases the visionary nature of the 11-tower development, which will be built almost entirely without parking. 

The Daily Hive reports that the five phase project would take shape on a starbust-shaped site that would link both to a nearby waterfront and with the surrounding neighborhood via generously landscaped ground floor areas that include the spaces located below the bridge span. 

Financially speaking, the project is proposed as a 50-50 partnership between the Squamish group and Westbank, The Daily Hive reports, with profits for the development set to be divided up equally, as well. According to the report, Westbank will work to finance the entire cost of construction for the $3 billion project in exchange for the Squamish First Nation providing a 120-year lease on the land. An independent financial analysis of the project estimates that between $16 billion and $20 billion could be generated in rental income from the scheme over the project's theoretical 110-year lifecycle. 70% of the units in the project will be leased at market rates while 30% will be offered as condominium units, according to the report. 

Squamish representatives have indicated that the project could be used as a case study for additional developments down the line located on other reserve lands with the eventual goal being to have the First Nation develop its own projects.