Western Canada’s largest housing co-operative will soon be built in Vancouver.
The new development will bring 140 new units of affordable co-op housing to the Fraser Lands River District.
The project was announced today by Mayor Gregor Robertson and the executive director of Community Land Trust (CLT) Thom Armstrong.
“The 140 new affordable co-op homes in the River District will be a very welcome addition to Vancouver’s supply of missing middle housing,” said Mayor Gregor Robertson, in a release.
According to Robertson, the homes will be “affordable for individuals and families bringing in between $41,000 and $125,000.”
Over 100 of the 140 homes are designed for families including 65 two-bedroom apartments and townhomes and 37 three-bedroom apartments and townhomes.
The new homes will be located at 3183 and 3245 Pierview Crescent on a 99-year lease from the City of Vancouver
30% of the homes will be reserved for households earning less than $68,000 annually.
The development will include 120 studio, one-bedroom, two-bedroom, and three-bedroom apartments and 20 two-bedroom and three-bedroom townhomes.
Rents will start at $1,038 per month for studios, $1,200 for one-bedrooms $1,450 for two-bedrooms and $1,700 a month for three-bedroom apartments or townhomes.