New 12-storey social housing building opens in Mount Pleasant

Construction progress on The Aster at 349 East 6th Avenue, Vancouver. (Brightside Community Homes Foundation)

A new social housing building for seniors in Vancouver’s Mount Pleasant neighbourhood is now ready for its residents.

Construction has reached completion on The Aster at 349 East 6th Avenue, which is situated at the northwest corner of the intersection of East 6th Avenue and Brunswick Street — a three-minute walk from SkyTrain’s future Great Northern Way-Emily Carr Station.

The 12-storey building contains 82 social housing units, representing a net gain of 46 units compared to the adjacent 1968-built, three-storey Lion’s Manor building at 325 East 6th Avenue with 36 units for seniors.

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The new building was developed by Wall Financial Corporation as a unique partnership with BC Housing and non-profit housing operator Brightside Community Homes Foundation.

Site of 349 East 6th Avenue, Vancouver. (Google Maps)

Previous condition:

Site of 349 East 6th Avenue, Vancouver. (Google Maps)

Winter 2023/2024 construction condition:

the aster brightside 349 east 6th avenue vancouver

Construction progress on The Aster at 349 East 6th Avenue, Vancouver. (Brightside Community Homes Foundation)

With the completion of the new building, as part of the land swap agreement from the outset of the partnership, Wall Financial will now buy Brightside’s Lion’s Manor property for its redevelopment into market and social housing, and Brightside will own The Aster.

The provincial government, through BC Housing, provided $14.6 million towards the project’s construction costs, and on an ongoing annual basis, it will also provide $575,000 to Brightside as an operating subsidy.

Residents in Lion’s Manor have begun their process of relocating next door into The Aster, and they will continue to pay the same rents based on income.

“Seniors living in these new apartments will benefit from affordable rents at the same rate they had in the same neighbourhood that they know and love. The Aster is an example of multiple partners coming together to introduce affordable housing where families, seniors and people living with disabilities can benefit from a wealth of nearby amenities and be part of a thriving community,” said Ravi Kahlon, the BC Minister of Housing, in a statement.

The municipal government approved Wall Financial’s rezoning application to build The Aster in late 2020, and the development permit application was approved in April 2022. Wall Financial’s rezoning application to redevelop Lion’s Manor, which falls under the City’s Broadway Plan, has yet to be publicized.

“Wall Financial is committed to continue working with the city and BC Housing to develop rental and affordable housing in the City of Vancouver,” said Bruno Wall, CEO of Wall Financial Corporation.

Construction progress on The Aster at 349 East 6th Avenue, Vancouver. (Brightside Community Homes Foundation)

A total of 42 units in The Aster will have rent geared to income, with rent being 30% of the tenant’s income. Another 19 units will be dedicated to households with very low incomes, including income or disability assistance or basic seniors’ pension. The remaining 21 units will be dedicated to low-end market rates of between $1,700 and $3,100 per month, depending on the size of the unit.

The building also features a range of shared amenities, including outdoor areas and tower rooftop urban agriculture space.

William Azaroff, the CEO of Brightside, notes that The Aster is the first of several hundred new affordable rental homes planned by his non-profit housing organization, which specializes in building and operating affordable housing for seniors. This includes the 146-unit Sunrise Village at 2924 Venables Street, the 157-unit Timbre & Harmony at 1425-1452 East 12th Avenue, and the 100-unit The Hawthorn at 8725 French Street.

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