The City of Vancouver’s Affordable Housing Agency (VAHA) will build 250 new rental homes on three city-owned sites
“It’s exciting to see VAHA move forward with these three sites to build more affordable housing for Vancouver families,” said Mayor Gregor Robertson in a release.
“City Hall will keep doing everything we can and pursue all tools available to tackle our housing crisis head on, and build more affordable housing so Vancouver can continue to be a place families call home.”
The development sites were approved by the Development Permit Board in August and the rent for the housing will be priced slightly below market rate in order to accommodate the needs of working individuals, seniors, and families. Sixty-five per cent of the homes will be two and three-bedroom units.
The three development sites are located at 3185 Riverwalk Avenue, 3183 Pierview Crescent, and 3245 Pierview Cresent. The sites are part of the River District area and the East Fraser Land Official Development Plan.
The construction of the housing is expected to start in spring 2017 and will take 18 to 24 months to complete.