Construction has started at Sequel 138, a 97-unit development offering both affordable home ownership and 18 rental units to individuals and families with low to moderate incomes.
Located at 138 East Hastings St. close to the historic Gastown, Chinatown and Oppenheimer neighbourhoods, the development will consist of two six-storey buildings connected by suspended walkways, a second-floor private courtyard and an urban agricultural garden. Residents will enjoy easy access to public transportation, commercial shops and community facilities.
FJL Housing Society will operate and manage the 18 affordable housing rental units. Construction is expected to be completed by late 2015.
Project partners and funding include:
- The B.C. government arranged interim construction financing of $21.8 million.
- The Province arranged about $814,000 in long-term financing on behalf of FJL Housing Society for the purchase of the 18 affordable housing rental units.
Suzanne Anton, MLA for Vancouver-Fraserview, Attorney General and Minister of Justice -
“This progressive housing development blends affordable housing units and commercial space that will revitalize the local community. I’d like to acknowledge FJL Housing Society for their foresight and dedication to the future residents.”
Derek Lew, director, FJL Housing Society -
“In the past few years, there has been significant residential and commercial activity occurring in this neighbourhood, and carefully planned projects like Sequel 138 are essential to successful redevelopment. Soon, the tenants of these affordable rental units will be able to be a part of this vibrant and growing neighbourhood, and enjoy all the amenities this unique development will have to offer.”
- Since 2001, the B.C. government has invested $4 billion to provide affordable housing for low-income individuals, seniors and families.
- This year, nearly 100,000 B.C. households will benefit from provincial social housing programs and services.
- Last year, the B.C. government invested over $112 million to provide subsidized housing and rent supplements for more than 26,000 Vancouver households.
- The Frank and Joan Lew Charitable Trust was established by the Lew family in 2008. With deep roots in Chinatown, the mission of FJL Housing Society is to ensure there is comfortable and affordable housing for the residents of the Downtown Eastside, while helping preserve and secure the historical identify of this unique neighbourhood.
For more information on provincial affordable housing programs and efforts to end homelessness in B.C., please visit: www.housingmattersbc.ca/factsheets.html and www.bchousing.org
To learn more about Sequel 138, visit: www.sequel138.com/
Follow BC Housing on Twitter: @BC_Housing (twitter.com)