16 new affordable housing projects in Metro Vancouver receive provincial funding

Artistic rendering of 525 Powell Street, Vancouver. (Stantec Architecture)

The Government of British Columbia has announced it will support the costs of building 16 new affordable rental housing projects across Metro Vancouver.

All of these projects combined will generate 1,954 affordable rental homes.

These projects are being funded through the third round of the provincial government’s Building BC: Community Housing Fund (CHF).

CHF’s first intake was in 2018, and the second intake occurred between late 2020 and early 2021. The current third intake occurred between August and November 2023. Calls for future CHF funding rounds will be made in late 2024 or early 2025.

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The fund is open to non-profit organizations, housing co-operatives, municipal governments, and First Nations.

A total of 17 new projects were announced for CHF’s third round today, including 16 projects within Metro Vancouver and one project in Bella Coola.

The projects were selected based on criteria that consider the need for affordable housing on an area-to-area basis. As well, funding is available for projects that need to cover further design and planning work to prepare them for the next CHF funding call.

Projects benefitting from the CHF must dedicate 70% of the homes with rents geared to income, where rent is based on 30% of household income. This rent-geared-to-income portion includes setting aside 20% of the homes for people with very low incomes, such as those receiving income or disability assistance. The remaining 30% of the units are available at or below market rents for households with moderate incomes.

Amongst the 16 projects in Metro Vancouver that will receive funding from the third round of the CHF, four projects are located in Vancouver, three in Burnaby, two in Delta, and one each in Surrey, New Westminster, and Bowen Island.

Additional successful projects for third-round funding on Vancouver Island, in the Interior, and North areas will be announced later this week.

This latest round of funding will bring much-needed homes to every region of our province — from our fastest-growing cities to rural and remote areas — helping everyone find a decent home in the community they love,” said Premier David Eby in a statement today.

BC Minister of Housing Ravi Kahlon added, “These new homes mean that more people in BC will benefit from affordable homes in the communities they love, where they can grow their families and age in place.”

According to the provincial government, BC Housing has identified over 40 new projects to move forward under the CHF program, totalling about 3,500 affordable rental homes. In total, throughout the life to date of the CHF since 2018, the program has supported 12,500 new affordable rental homes that are already open or underway.

This spring, construction will reach completion on the Kekinow Native Housing Society’s project of 100 affordable rental homes for Indigenous people at 7567 140 Street in Surrey’s Newton neighbourhood. It received CHF’s second-round funding, and the non-profit organization will receive third-round funding for another project with 62 units at 9537 Prince Charles Boulevard near the southwest corner of Surrey City Centre.

One of the most prominent projects in CHF’s third round is 625 Pacific Street, which is situated on a development parcel that was previously occupied by the Granville Street Bridge’s north loops in downtown Vancouver. The provincial government has noted that this future project on land owned by the City of Vancouver — generating 194 units — is a partnership with More Than a Roof Housing Society. Under the July 2022-approved rezoning, this project will have 930,000 sq ft of total building floor area, including 166,000 sq ft of social housing and 127,000 sq ft of market rental housing.

The largest of the projects in the third round of funding is the redevelopment of Coast Foundation Society’s two-storey facility at 293 East 11th Avenue in Vancouver’s Mount Pleasant neighbourhood. The provincial government notes the non-profit organization is planning a total of 370 homes for the small site, which suggests a tower-based development. Under the City’s Broadway Plan, a 25-storey tower can be built at this site on the northwest corner of the intersection of Kingsway and East 11th Avenue, which is just southwest of Kingsgate Mall and a close walking distance from SkyTrain’s future Mount Pleasant Station.

Another Vancouver recipient in this third round is PHS Community Services Society for their project of redeveloping the 2018-built, three-storey temporary modular housing building, called Aneki Housing for Women, into a permanent 10-storey building with 156 units. This City-owned site at 525 Powell Street is adjacent to Oppenheimer Park in the Downtown Eastside.

To the east, ALT Jackson Housing Society’s 94-unit project at 405 Jackson Avenue (previously known as 401 Jackson Avenue) — the southwest corner of the intersection of East Hastings Street and Jackson Avenue in the Downtown Eastside — is also a third-round recipient.

Here is a full list of all 17 projects receiving funding under CHF’s third round:

Bella Coola, Anukaliakuulhla Mnmntni, Bella Coola IR1: 20 homes for Indigenous elders, in partnership with the Nuxalk Nation.
Bowen Island, 1033 Miller Road: 24 homes for families and seniors, in partnership with Lookout Housing and Health Society.
Burnaby, 4170 James Street: 118 homes for individuals, families and seniors, in partnership with the New Vista Society.
Burnaby, 7000 Lougheed Highway.: 66 homes for Indigenous and non-Indigenous families and seniors, in partnership with M’akola Housing Society.
Burnaby, 3755 McGill Street: 48 homes for Indigenous elders and young families, in partnership with Action Line Housing Society.
Coquitlam, 290 Laval Square and 602 Sydney Avenue: 158 homes for families and seniors, in partnership with S.U.C.C.E.S.S. Affordable Housing Society.
Coquitlam, 708 Farrow Street: 21 homes for families and seniors, in partnership with VRS Communities Society.
Delta, 1050 54 A Street: 144 homes for seniors, in partnership with KinVillage.
Delta, 4603 Evergreen Lane: 138 homes for families and seniors, in partnership with Affordable Housing Non-Profit Rental Association.
District of North Vancouver, Old Lillooet Road: 166 homes for families and seniors, in partnership with More Than a Roof Housing Society.
Maple Ridge, 22534, 22548, 22566 Royal Crescent: 98 homes for seniors, in partnership with the New Vista Society.
New Westminster, 1923 and 1927 Marine Way: 77 homes for young adults and women at risk of homelessness, in partnership with Aunt Leah’s Properties.
Surrey, 9537 Prince Charles Boulevard: 62 homes for seniors, in partnership with Kekinow Native Housing Society.
Vancouver, 293 East 11th Avenue: 370 homes for families and seniors, in partnership with Coast Foundation Society.
Vancouver, 625 Pacific Street: 194 homes for families and seniors, in partnership with More Than a Roof Housing Society.
Vancouver, 525 Powell Street: 156 homes for families and seniors, in partnership with PHS Community Services Society.
Vancouver, 405 Jackson Avenue: 94 homes for families and seniors, in partnership with ALT Jackson Housing Society.

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