Takaya Golf Centre




Takaya Golf Centre




Takaya Tour





Takaya Tour




Takaya Tour

Takaya Developments, Ltd.

Prior to 1992 there was no formal economic development activity carried out by the Tsleil-Waututh First Nation (TWN).  In this period TWN leaders were preoccupied with issues of basic community survival, including the provision of public utilities and new housing to TWN members.  In 1992 the community began to develop a more formal economic development strategy.  The first step in the process that evolved into the current Tsleil-Waututh economic development function, was the establishment of Takaya Developments, Inc. in 1992.  The following description of initiatives begins with a brief history of Takaya Developments, Inc.

In 1992 Chief Leonard George initiated partnership discussions with both the Hong Kong-based Kuok family, and Mr. Loong Keng Lim.  At the same time Takaya Developments, Ltd. was formed as a corporate umbrella under which the TWN would pursue this, and other, economic development initiatives.  After an extended period of negotiation, the new partners identified 95-acres of Burrardview IR#3 for market condominium and other development.  Soon after, planning was initiated for a multi-phase development to be known as “Raven Woods.”  

On June 24th 1992 a formal agreement was signed between the Tsleil-Waututh Nation and 3678 Investments Limited, a company owned by both Abbey Woods Development Ltd. and Mr. Loong Keng Lim, to undertake a variety of construction projects on Burrardview IR #3.  The key elements of the agreement included: 

1.      TWN supply of land and development approvals,

2.      3678 Investments supply of access to capital and business management expertise, and

3.      Establishment of an Operations Committee that would control all aspects of each development project, including profit sharing arrangements.

The first partnership for the development of Raven Woods began in January 1993 and was dissolved in June of 1999.  As required by the Indian Act, a community vote was held to designate the proposed building site for development.  Since 1993, nine separate phases of leasehold projects have been completed.

 The partnership agreement was revised in June 1999 when the Kuok family phased out Abbey Woods Development Ltd. and created Sligo Holdings (B.C.) Ltd. as the vehicle for their relationship with TWN.  At the same general time, Mr. Loong Keng Lim also incorporated Native Strategic Investments Inc. as a corporate vehicle for his ongoing participation with the TWN.  These were cosmetic modifications only, and did not change the fundamental relationship between the TWN, Mr. Loong Keng Lim, and the Kuok family.

The condominium developments, Raven Woods, Deerfield-by-the-Sea and Seasons fall under three separate partnership agreements:





Partnership #1 – Raven Woods

January 1993

June 1999

Partnership #2 – Deerfield-by-the-Sea

September 1994

June 1999

Partnership #3 – Seasons

September 2000



The change from Abbey Woods to Sligo Holdings occurred with the commencement of the Seasons project.  Deerfield-by-the-Sea was not completely subscribed when Abbey Woods and Loong Keng Lim released their ownership to the Tsleil-Waututh, allowing TWN to capture revenues wholly from the unsold leases.

Although each phase of Raven Woods has been developed as an independent project, each component is managed in the same general manner.  The Management Committee members approve a budget and conceptual design for the project.  Members of the Committee draw salaries and other expenses that are accounted for as project overhead costs.  The final plans for the project are developed with the assistance of Mr. Harry Wong, a construction project manager and permanent employee of the partnership team.  Ms. Tamara Poersch is similarly on staff to assist Mr. Wong, and to coordinate real estate marketing activities.  Real estate agents are also directly hired to sell extended leases to the new housing units.  At the conclusion of the project, all construction and overhead costs of the partners are accounted for and the profit split as per agreement of the Operations Committee. 

To early 2002, Takaya Developments, Ltd. has constructed 629 condominium units that have been leased for a maximum 99-year term (The lease arrangement with Abbey Woods was for 99 years beginning in 1995.  Subsequent leases to tenants are for 99 years beginning in 1995 in order that all leases come due at the same time). 

From 1994 to 2002, the various partnership agreements and separate condominium sales have generated a substantial amount in cash distributed to the Tsleil-Waututh Nation.  This has been distributed for projects including: 

§         Support of aboriginal rights and title legal challenges;

§         Profit sharing with TWN community members;

§         Gym/community hall construction;

§         Lacrosse box construction;

§         Takaya Tours start up and operations subsidy;

§         Takaya Driving range start-up and operation subsidy;

§         Gathering Place Restaurant start-up and operations subsidy;

§         Transfers to TWN educational and social assistance programming;

§         Gathering Place Community Store (and cigarette/tobacco sales);

§         As well as a variety of business research and project development exercises.

Financial returns from condominium projects’ Partnerships have included more than the return from long-term lease sales.  Leaseholders in each of the condominium phases pay maintenance and landscaping dues to a building association, as well as property and improvement taxes to the Tsleil-Waututh Nation.  The Partnerships have also resulted in a donation to TWN of the partners equity in the Takaya Golf Centre and a contribution of equity in unsold condominiums in the Deerfield by the Sea condominium complex.