Summary

• Construction is underway on 116 new below-market rental homes at 6337 Cassie Ave., Burnaby
• The homes are for people with middle incomes, delivered in partnership with the federal and local governments, and Waterleaf Housing Society
• Located near Metrotown SkyTrain, the homes will help residents save on transportation costs
• The Province, through BC Builds at BC Housing, is supporting the project with almost $20 million in grants

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People in Burnaby will have more housing options as construction continues on 116 new below-market rental homes in Metrotown, steps from the SkyTrain station and essential services.

“We are making sure people have access to homes that support their daily routines through BC Builds,” said Christine Boyle, B.C.’s Minister of Housing and Municipal Affairs. “By replacing aging units with new homes close to transit, schools and the services people rely on, we’re helping more people stay connected to their community, reduce long commutes and build stability for the long term.”

The homes at 6337 Cassie Ave. are part of the Reign, a high-density redevelopment that replaces older market-rental units with modern, below-market homes designed to support middle-income earners over the long term.

The project is being delivered through a partnership of:

• the Province, through BC Builds at BC Housing
• the federal government, through Canada Mortgage and Housing Corporation
• the City of Burnaby
• Waterleaf Housing Society

Waterleaf Housing Society is a non-profit housing provider established by Wesgroup Properties to deliver, own and manage non-profit rental housing. The society will own and operate the 116 homes, including 92 one-bedroom and 24 two-bedroom units, which are expected to open in 2028.

More homes for middle-income households

BC Builds is a key housing strategy of the Province designed to meet the needs of people who keep communities running, such as teachers, tradespeople and health-care workers, by increasing access to homes close to jobs and essential services. Rents for BC Builds projects are typically set at approximately 20% below-market rates for 20% of the units. For these new homes, all units will be offered at below-market rates, making more homes accessible for middle-income earners.

The program uses public and underused land, as well as low-cost financing and grants, to facilitate development and speed up timelines. Working closely with First Nations, non-profit organizations and local governments, more than 5,200 homes have been delivered or are underway so far through BC Builds, bringing more housing options to people with middle incomes throughout the province.

Transit-oriented homes help save costs

Located in one of the region’s fastest‑growing transit‑oriented communities, the Reign project will provide opportunities to help reduce transportation costs for workers, seniors and families. Metro Vancouver’s 2025 Housing and Transportation Cost Burden Study shows that transportation is one of the largest household expenses and, in some cases, can exceed housing costs. It also found that those who live in areas well supported by fast, frequent transit spend $10,000 to $20,000 less on housing and transportation overall. 

“The proximity of these new homes to rapid transit helps renters save money on their transportation costs,” Boyle said. “Those savings can go toward child care, school and other essentials, helping ease pressures on daily expenses.”

By creating more homes near transit hubs, the Province and its partners are helping people spend less time commuting and more time in their communities. This approach supports provincial and municipal housing initiatives that encourage higher housing supply within existing urban centres near transit.

Since 2017, the Province has more than 95,000 homes delivered or underway throughout B.C., including nearly 5,500 homes in Burnaby.

Quotes:

Wade Chang, MP for Burnaby Central, on behalf of Gregor Robertson, federal Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada –

“Today’s announcement represents a significant step forward in addressing Burnaby’s housing needs and building on the strong momentum already underway. With more than 100 new rental homes coming to the Metrotown neighbourhood, we’re helping families, workers and young people put down roots and thrive in Burnaby. Through collaboration with all levels of government and partners like Waterleaf, we’re building a more inclusive future where everyone belongs.”

Paul Choi, MLA for Burnaby South-Metrotown –

“People want to stay close to their workplaces, schools and services they rely on, and these new homes will help make that possible. Creating more of these homes helps strengthen our neighbourhoods and gives people the stability and opportunity to thrive in the community they call home.”

Mike Hurley, mayor of Burnaby –

“This project is a great example of how collaboration between government and the private sector can deliver more affordable homes for Burnaby families. Providing these homes at below-market rates will help foster the vibrant and diverse neighbourhoods that make our city so special.”

Beau Jarvis, president and CEO of Wesgroup Properties, on behalf of Waterleaf Housing Society –

“We’re grateful for the support of our federal and provincial partners in making this project possible. Homes in this building will be offered to residents who previously lived on the site, providing them with the opportunity to return to a brand-new building in the same community. Through Waterleaf Housing Society, we’re committed to providing secure, long-term rental housing that strengthens neighbourhoods and supports residents over the long term.”

Quick Facts:

• The Province, through BC Builds at BC Housing, is supporting the project with almost $20 million in grant funding.
• The federal government is providing almost $25 million through the Apartment Construction Loan Program under the Canada-BC Builds agreement.
• The City of Burnaby is contributing more than $480,000 through a development cost charge credit.
• Wesgroup Properties is contributing land and approximately $10.5 million in cash equity.

Learn More:

• To read Metro Vancouver’s Housing and Transportation Cost Burden Study, visit: https://metrovancouver.org/services/regional-planning/Documents/housing-and-transportation-cost-burden-study-update-2025.pdf
• To learn more about BC Builds, visit: https://www.bchousing.org/bcbuilds
• To learn how B.C. is working to deliver more homes for people, visit: https://gov.bc.ca/homesforpeople
• For the most-requested Government of Canada housing information, visit: https://canada.ca/housing