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May 24, 2024, 12:25 pm

Hundreds More Affordable Homes Coming to Metro Vancouver

Ministry of Housing
VANCOUVER -  People will soon have access to hundreds more affordable homes in communities they love through a partnership between the Province and Metro Vancouver.

“Safe, secure and affordable housing lifts up families, communities and our entire province,” said Premier David Eby. “That’s why our government is taking action with a clear plan that puts people who live and work in our communities ahead of speculators who just want to make a quick buck at the expense of hard-working people. By partnering with Metro Vancouver, we are helping thousands of people find homes they can actually afford, so they can build good lives in our growing communities.”

This is the second phase of a commitment between the Province, through BC Housing, and Metro Vancouver, through Metro Vancouver Housing, that will deliver approximately 670 below-market rental units.

“Through our Homes for People action plan, we are delivering thousands of new homes for people in Metro Vancouver,” said Ravi Kahlon, Minister of Housing. “We know people are struggling to find homes that meet their diverse needs, especially in a region that’s seeing increased pressure in the housing market. The partnership with Metro Vancouver will deliver more housing options that are within reach for people, in communities they call home.”

Phase 2 projects are being planned at the following sites:
 
  • 1144 Inlet St., Coquitlam (Malaspina Village Phase 2)
  • Old Dollarton Road and Riverside Drive, North Vancouver (Riverside Drive)
  • 2933 Heather St., Vancouver (Heather Place C)
  • 100 Nelson St., Coquitlam (Park Court)

Phase 2 budgets, number of units and rents per project will be determined closer to project completion.

“Metro Vancouver recognizes that safe, affordable places to call home are critical if we are to help address the affordability issues facing our region,” said George V. Harvie, chair of the Metro Vancouver board of directors. “We’re working together with key partners, including BC Housing, to provide as much new affordable rental housing as we can. I’m extremely pleased that we are on track with our new housing and redevelopment targets at this critical time.”

This action on housing comes as a result of a memorandum of understanding (MOU) signed in spring 2023. The goal is to create approximately 2,000 affordable rental homes over 10 years at priority sites identified by Metro Vancouver.

The Province also committed to provide Metro Vancouver with funding for a third phase to deliver even more affordable rental units starting in 2028. Phase 3 sites will be announced once full details have been confirmed.

“Affordable housing is a basis for life-changing opportunities,” said Monikka Tayag, a resident of Heather Place A. “I believe this project reflects Metro Vancouver’s dedication to us residents and will serve as an example of how communities thrive by supporting each other.”

Metro Vancouver Housing is one of the largest non-profit housing providers in B.C., with more than 3,400 affordable rental homes on 49 sites, serving close to 10,000 people. A trusted housing provider since 1974, Metro Vancouver Housing is an experienced developer and operator. Metro Vancouver Housing builds homes to last and delivers, maintains, and operates high-quality housing.

These projects are part of a $19-billion housing investment by the B.C. government. Since 2017, the Province has nearly 78,000 homes that have been delivered or are underway throughout B.C., including nearly 40,000 homes in Metro Vancouver.

Learn More:

To learn more about government’s Homes for People action plan, visit: https://news.gov.bc.ca/releases/2023HOUS0019-000436

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

 

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