The City of Vancouver announced their budget for 2016 and have promised to funnel nearly $30 million into affordable housing including $12 million for social housing in the False Creek flats.
Key capital investments in the city for 2016 total $325.2 million and will be distributed among parks and recreation, social housing, utilities and transportation, civic and community facilities, and equipment and technology.
Other social housing improvements include acquiring land in River District for affordable housing, giving capital grants to non-city-owned social housing units and a renewal project for Roddan Lodge housing and Evelyne Saller Centre.
A whopping $138 million will be poured into utilities and transportation, including $8.1 million for phase one of the removal of the Georgia Street Viaduct. Another $30 million will be allocated for sewer main replacement.
Strathcona will receive a new library as well, priced at a cost of $11 million. Around $4.6 million has been set aside for the Vancouver Art Gallery Envelope and Plaza.
“New and enhanced” city services are coming as well, including:
To read the full 293 page city budget, click here.