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Municipal Affairs and Housing

Hundreds of new affordable homes for Vancouver Coastal, Fraser regions

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Municipal Affairs and Housing

Hundreds of new affordable homes for Vancouver Coastal, Fraser regions

Media Contacts
Ministry of Municipal Affairs and Housing
Media Relations
778 584-1255
BC Housing
Media Relations
media@bchousing.org
Media Contacts
Ministry of Municipal Affairs and Housing
Media Relations
778 584-1255
BC Housing
Media Relations
media@bchousing.org

Backgrounders

Funding for new housing projects in Vancouver Coastal, Fraser regions

Projects open:

  • Abbotsford, 2740 Fuller St.:
    • The Province provided capital funding of approximately $11.7 million.
  • Port Coquitlam, 3155 Seymour St.:
    • The Province provided capital funding of approximately $6.5 million.
    • The non-profit operator, the Port Coquitlam Senior Citizens' Housing Society, provided the land.

Projects starting or under construction:

  • Burnaby, 3755 Banff Ave.:
    • The Province is providing capital funding of approximately $5.5 million.
    • The non-profit operator, Burnaby Association for Community Inclusion, will lease the land from the City of Burnaby.
  • Coquitlam, 1033 Austin Ave.:
    • The Province, through the HousingHub, is providing approximately $1.7 million in interim construction financing.
  • Hope, 755 Old Hope Princeton Way:
    • The Province is providing capital funding of $9 million through the Indigenous Housing Fund, as well as interim construction financing of approximately $8.1 million and annual operating funding.
    • The non-profit operator, Mamele'awt Qweesome Housing Society, provided the land.
  • Maple Ridge, 22265 Dewdney Trunk Rd.:
    • The Province, through the HousingHub, is providing interim construction financing of approximately $19.4 million.
    • Johnston Meier Insurance Group Real Estate Division provided the land.
  • North Vancouver, 125 E. 20th St.:
    • The Province, through the HousingHub, is providing approximately $23.6 million in interim construction financing.
    • The non-profit operator, the Vancouver Resource Society for the Physically Disabled, provided the land.
  • Vancouver, 3281 E. 22nd Ave.:
    • The Province, through the HousingHub, is providing interim construction financing of approximately $21.6 million.
    • Peak Real Estate Marketing Ltd. provided the land.
  • Vancouver, 3510 Fraser St.:
    • The Province is providing capital funding of approximately $9.2 million and interim construction financing of approximately $6.5 million.
    • The City of Vancouver is leasing the land, at a nominal rate, to the Community Land Trust Foundation of British Columbia.
  •  Vancouver, 23-51 W. Cordova St.:
    • The Province is providing capital funding of approximately $9.4 million from the Affordable Rental Housing Program and annual operating funding to the non-profit operator, PHS Community Services Society.
  • Whistler, 1330 Cloudburst Dr.:
    • The Province, through the HousingHub, is providing approximately $10.2 million in interim construction financing.
    • The Whistler Housing Authority provided the land.
Province building new homes to meet full spectrum of housing needs

The B.C. government is working in partnership to build 114,000 affordable homes that cover the full spectrum of housing needs for British Columbians by 2028.

Budget 2018 included a $7-billion investment in the homes people need. As a result of that investment, more than 23,000 new homes are complete, under construction or in the approvals process for a range of people who are struggling to find a place to live, from people who are experiencing homelessness and seniors on fixed incomes, to middle-income families, students and individuals. As of Dec. 31, 2019, this includes:

Housing for people with middle incomes

The average annual household income qualifying for homes underway is under $99,000 per year:

  • HousingHub: 2,802 homes

Housing for people with low to moderate incomes

This includes people residing in social housing (household incomes less than $65,000), as well as those living in affordable market rentals (households with annual incomes up to $74,000) – 9,837 homes:

Affordable market:

  • Building BC: Community Housing Fund (30% of units in each project): 1,565 rental homes for people with low to moderate incomes
  • Affordable Rental Housing Program: 1,615 homes for people with low to moderate incomes
  • Deepening Affordability Fund: 1,976 homes for people with low to moderate incomes
  • Regional Housing First Program: 907 homes for people with low to moderate incomes

Social housing or subsidized rents:

  • Building BC: Community Housing Fund (50% of units in each project): 2,609 rental homes for people with low incomes
  • Building BC: Indigenous Housing Fund: 1,165 homes for Indigenous peoples, on- and off-reserve

Housing for people with very low incomes

Rental housing for people experiencing or at risk of homelessness, or for people with very low incomes (includes supportive housing and shelter-rate housing) – 4,795 homes:

  • Rapid Response to Homelessness: 2,012 homes with 24/7 support
  • Building BC: Supportive Housing Fund: 1,060 homes with 24/7 support
  • Building BC: Women’s Transition Housing Fund: 679 spaces of transition, second-stage and affordable rental housing for women and children leaving violence
  • Building BC: Community Housing Fund (20% of units in each project): 1,044 homes

Housing for students – 5,584 homes:

  • BC Student Housing Loan Program: 2,699 on-campus student housing units are under construction, in development or in the approvals process
  • 2,885 student housing units are also complete, under construction or in development through partnerships with post-secondary institutions

Total: 23,018 homes

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