Vancouver Tuesday, June 16, 2020 9:45 AM

The Government of B.C. and partners are opening or beginning construction on more than 540 new affordable rental homes for people in the Vancouver Coastal and Fraser regions.

“British Columbians believe that everyone should have a safe, secure and affordable place to call home in their community,” said Selina Robinson, Minister of Municipal Affairs and Housing. “From homes for seniors on fixed incomes to people experiencing homelessness and young working families, it’s our responsibility as government to work with partners to deliver the housing that people need and can afford. We know there is more to do and we’re going to keep working with our partners to deliver thousands of homes here and across the province.”

More than 100 of these homes are newly opened, including:

  • Abbotsford, 2740 Fuller St. – 60 homes for low-income families, seniors and youth. Monthly rents range from $800 (one bedroom) to $1,650 (three bedrooms). Residents began moving into their homes in late May 2020.
  • Port Coquitlam, 3155 Seymour St. – 41 homes for low-income seniors. Monthly rents for the one-bedroom homes range from $803 to $910. Residents began moving into their homes in early June 2020.

Construction is starting or underway on more than 440 homes, including:

  • Burnaby, 3755 Banff Ave. – construction is underway on 15 homes for youth and adults with developmental disabilities and the renovation of a 37-space child-care facility. Monthly rents are projected to range from approximately $725 (studio unit) to $3,000 (three-bedroom unit funded by Community Living BC).
  • Coquitlam, 1033 Austin Ave. – construction is underway on 12 homes for seniors and people with disabilities. Monthly rents are projected to range from $375 to approximately $2,730.
  • Hope, 755 Old Hope Princeton Way – construction is underway on 45 homes for Indigenous Elders and families. Monthly rents are projected to range from $375 (one bedroom) to approximately $660 (three bedrooms).
  • Maple Ridge, 22265 Dewdney Trunk Rd. – construction underway on 49 homes for middle-income individuals and families. Monthly rents are projected to range from approximately $1,650 (studio unit) to $2,200 (three bedrooms).
  • North Vancouver, 125 E. 20th St. – construction is underway on 85 homes for low- to middle-income individuals and families. Monthly rents are projected to range from approximately $720 (studio unit) to $2,600 (three bedrooms).
  • Vancouver, 3281 E. 22nd Ave. – construction is underway on 52 homes for middle-income individuals and families. Monthly rents are projected to range from approximately $1,380 (studio unit) to $2,900 (three bedrooms).
  • Vancouver, 3510 Fraser St. – construction is set to start in late July 2020 on 58 homes for low- to moderate-income seniors. Monthly rents are projected to range from approximately $1,040 (studio unit) to $1,700 (one bedroom).
  • Vancouver, 23-51 W. Cordova St. – construction is underway on 80 supportive homes for people experiencing homelessness. Monthly rents for the studio units and one-bedroom homes will be $375.
  • Whistler, 1330 Cloudburst Dr. – construction is underway on 45 homes for middle-income individuals and families. Monthly rents are projected to range from approximately $1,650 (studio unit) to $2,200 (three bedrooms).

These projects are part of more than 23,000 new homes that are complete or underway around the province, including 9,750 in the Vancouver Coastal and Fraser regions, as part of the Government of B.C.’s Homes for B.C. housing plan.

Delivering affordable housing is a shared priority between government and the BC Green Party caucus and is part of the Confidence and Supply Agreement.

Learn More:

A map showing the location of all announced provincially funded housing projects in B.C. is online: https://www.bchousing.org/homes-for-BC

To learn about the steps the Province is taking to tackle the housing crisis and deliver affordable homes for British Columbians, visit: https://workingforyou.gov.bc.ca/

Two backgrounders follow.

Funding for new housing projects in Vancouver Coastal, Fraser regions

Projects open:

  • Abbotsford, 2740 Fuller St.:
    • The Province provided capital funding of approximately $11.7 million.
  • Port Coquitlam, 3155 Seymour St.:
    • The Province provided capital funding of approximately $6.5 million.
    • The non-profit operator, the Port Coquitlam Senior Citizens’ Housing Society, provided the land.

Projects starting or under construction:

  • Burnaby, 3755 Banff Ave.:
    • The Province is providing capital funding of approximately $5.5 million.
    • The non-profit operator, Burnaby Association for Community Inclusion, will lease the land from the City of Burnaby.
  • Coquitlam, 1033 Austin Ave.:
    • The Province, through the HousingHub, is providing approximately $1.7 million in interim construction financing.
  • Hope, 755 Old Hope Princeton Way:
    • The Province is providing capital funding of $9 million through the Indigenous Housing Fund, as well as interim construction financing of approximately $8.1 million and annual operating funding.
    • The non-profit operator, Mamele’awt Qweesome Housing Society, provided the land.
  • Maple Ridge, 22265 Dewdney Trunk Rd.:
    • The Province, through the HousingHub, is providing interim construction financing of approximately $19.4 million.
    • Johnston Meier Insurance Group Real Estate Division provided the land.
  • North Vancouver, 125 E. 20th St.:
    • The Province, through the HousingHub, is providing approximately $23.6 million in interim construction financing.
    • The non-profit operator, the Vancouver Resource Society for the Physically Disabled, provided the land.
  • Vancouver, 3281 E. 22nd Ave.:
    • The Province, through the HousingHub, is providing interim construction financing of approximately $21.6 million.
    • Peak Real Estate Marketing Ltd. provided the land.
  • Vancouver, 3510 Fraser St.:
    • The Province is providing capital funding of approximately $9.2 million and interim construction financing of approximately $6.5 million.
    • The City of Vancouver is leasing the land, at a nominal rate, to the Community Land Trust Foundation of British Columbia.
  •  Vancouver, 23-51 W. Cordova St.:
    • The Province is providing capital funding of approximately $9.4 million from the Affordable Rental Housing Program and annual operating funding to the non-profit operator, PHS Community Services Society.
  • Whistler, 1330 Cloudburst Dr.:
    • The Province, through the HousingHub, is providing approximately $10.2 million in interim construction financing.
    • The Whistler Housing Authority provided the land.

Province building new homes to meet full spectrum of housing needs

The B.C. government is working in partnership to build 114,000 affordable homes that cover the full spectrum of housing needs for British Columbians by 2028.

Budget 2018 included a $7-billion investment in the homes people need. As a result of that investment, more than 23,000 new homes are complete, under construction or in the approvals process for a range of people who are struggling to find a place to live, from people who are experiencing homelessness and seniors on fixed incomes, to middle-income families, students and individuals. As of Dec. 31, 2019, this includes:

Housing for people with middle incomes

The average annual household income qualifying for homes underway is under $99,000 per year:

  • HousingHub: 2,802 homes

Housing for people with low to moderate incomes

This includes people residing in social housing (household incomes less than $65,000), as well as those living in affordable market rentals (households with annual incomes up to $74,000) – 9,837 homes:

Affordable market:

  • Building BC: Community Housing Fund (30% of units in each project): 1,565 rental homes for people with low to moderate incomes
  • Affordable Rental Housing Program: 1,615 homes for people with low to moderate incomes
  • Deepening Affordability Fund: 1,976 homes for people with low to moderate incomes
  • Regional Housing First Program: 907 homes for people with low to moderate incomes

Social housing or subsidized rents:

  • Building BC: Community Housing Fund (50% of units in each project): 2,609 rental homes for people with low incomes
  • Building BC: Indigenous Housing Fund: 1,165 homes for Indigenous peoples, on- and off-reserve

Housing for people with very low incomes

Rental housing for people experiencing or at risk of homelessness, or for people with very low incomes (includes supportive housing and shelter-rate housing) – 4,795 homes:

  • Rapid Response to Homelessness: 2,012 homes with 24/7 support
  • Building BC: Supportive Housing Fund: 1,060 homes with 24/7 support
  • Building BC: Women’s Transition Housing Fund: 679 spaces of transition, second-stage and affordable rental housing for women and children leaving violence
  • Building BC: Community Housing Fund (20% of units in each project): 1,044 homes

Housing for students – 5,584 homes:

  • BC Student Housing Loan Program: 2,699 on-campus student housing units are under construction, in development or in the approvals process
  • 2,885 student housing units are also complete, under construction or in development through partnerships with post-secondary institutions

Total: 23,018 homes

This on BC Govt Website go to the link here

 

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