First homeowners move into Coper Ridge West
A New Era in Home Ownership
A significant milestone was reached on Friday, February 14th, as the first family moved into their brand-new single-family home in Copper Ridge West, Whitehorse. This event marks the first market housing unit developed on a First Nations-owned leasehold lot in the subdivision, a project spearheaded by Chu Níikwän Limited Partnership (CNLP).
This achievement was made possible after the home received full Building Permit & Occupancy approval from the City of Whitehorse. The expedited mid-winter completion was the result of an ambitious construction schedule that began in late Fall 2024, successfully managed by a renowned local Yukon home-builder, SPK Homes & Construction.
Infrastructure and Development
CNLP obtained a Construction Completion Certificate (CCC) from the City of Whitehorse in early Fall 2024 following the successful installation of full servicing for the 24-lot leasehold subdivision. These lots were developed in compliance with the latest City Engineering Services Standards, integrating Atco & NWTEL electrical and telecommunications infrastructure.
The completed infrastructure was inspected and approved, and subsequently handed over to the City for long-term maintenance under the City/KDFN Municipal Services and Infrastructure Agreement (MSIA).
A Self-Sustaining Model
CNLP financed the Beryl Place development without any external funding, aside from a fully cost-recoverable, no-interest loan from the Yukon Government’s 'Developer Build Loan' program through Yukon Housing Corporation (YHC). This short-term (3-year) secured loan requires CNLP to repay a portion of the loan upon each lot sale and occupancy.
The cost-recovery model mirrors development practices used in other City of Whitehorse projects, such as Whistlebend, with leasehold lots selling at market-competitive prices. In some cases, these leaseholds have even exceeded per-square-foot pricing of comparable freehold lots in Whitehorse.
Confidence in Leasehold Property
The rapid sale of leasehold lots highlights strong market confidence in the long-term investment value of this development.
Prime Location: Homes on Beryl Place offer stunning wilderness views, easy access to schools, neighborhood services, and the Canada Games Centre.
Conventional Financing: Major financial institutions have recognized leasehold lots as secure investments, offering conventional mortgages with long-term financing options.
No Difference from Freehold Lots: Owners of these approximately 125-year leasehold lots enjoy identical municipal services, tax rates, and residency rights as freehold property owners in Whitehorse.
Looking Ahead
CNLP anticipates between 6 to 10 additional occupancies by the end of 2025, with the remaining lots expected to be occupied in 2026.
Looking further ahead, CNLP may explore Phase 2 of Copper Ridge West, which could introduce 75 additional leasehold lots to meet the continued housing demand in Whitehorse.
For more details about available leasehold lots, visit cnlp.ca.