B.C., Metro Vancouver partner to develop thousands of new affordable homes
PORT COQUITLAM - The Province, through BC Housing, and Metro Vancouver, through the Metro Vancouver Housing Corporation, are working collaboratively to build new affordable housing for people in the Metro Vancouver region.
"Through our new Homes for People action plan, our government has signalled that we are committed to working with local governments to address the urgent need for housing in our province and deliver the homes people need, faster," said Ravi Kahlon, Minister of Housing. “The new units created through this partnership with Metro Vancouver will help create more affordable, sustainable and safer communities. We will continue to work with our partners to build safe and affordable housing that enables people thrive.”
BC Housing and Metro Vancouver have signed a memorandum of understanding (MOU) that will result in the construction of approximately 2,000 affordable homes over the next 10 years at priority sites identified by Metro Vancouver. The first phase includes the following sites:
- 788 West 13th Ave., Vancouver
- 7730-6th St, Burnaby
- 7388 Southwynde Ave., Burnaby
- 19085-119B Ave., Pitt Meadows
- 1144 Inlet St., Coquitlam
The first phase of projects will provide approximately 660 new homes at five sites, supported with a provincial investment of $158 million over the next three years. Subsequent funding will be announced for the additional sites at a later date. Metro Vancouver is contributing land and cash equity valued at more than $217 million over the 10 years, and is working to leverage federal funding support.
"Our region is mired in a worsening housing crisis, and Metro Vancouver is working to significantly expand our housing portfolio so we can continue to support healthy, inclusive communities," said George Harvie, chair, Metro Vancouver board of directors. “The Salal Landing project in the heart of Port Coquitlam is one of many projects Metro Vancouver has planned or underway to increase and renew our supply of affordable housing.”
Metro Vancouver has a history of partnering with the Province to build much-needed housing. The Province, through the Building BC: Community Housing Fund, is providing $7.9 million toward Salal Landing, a five-storey building for families, seniors and people living with disabilities in Port Coquitlam with low to moderate incomes. Located at 2481 Welcher Ave., the building will have 63 units with a mix of studio, one-, two- and three-bedroom homes. All homes will be accessible or meet universal design standards to support people living with disabilities, which will help seniors to age in place.
"The City of Port Coquitlam supports a range of housing types and tenures allowing a diversity in people to live here," said Brad West, mayor, Port Coquitlam. “Our community is close knit and a supportive one that welcomes all to be part of our growing city. Council has been supportive of this development as part of a range of actions by the city to improve housing affordability in Port Coquitlam.”
Metro Vancouver will own and operate Salal Landing. Construction is expected to be complete in spring 2024.
"This new building is a great step toward addressing lack of affordable housing for people with low to moderate income in our community," said Mike Farnworth, MLA for Port Coquitlam. “Partnerships are key to success on these projects, so our government is proud to be working with Metro Vancouver Housing Corporation to help deliver the affordable homes that people need in Port Coquitlam and throughout the region.”
- This project is part of a $19-billion housing investment by the B.C. government.
- Since 2017, the Province has delivered more than 74,000 new homes that have been completed or are underway, including nearly 200 homes in Port Coquitlam.
- In addition to the Building BC: Community Housing Fund grant, BC Housing will also provide $387,000 in annual operating funding for the Salal Landing project.
- Metro Vancouver provided the project land, valued at $7 million, cash equity of up to $6 million and a grant of $160,000.
- The City of Port Coquitlam is providing waiver fees and additional grants totaling $1.2 million.
To learn more about the Homes for People action plan, visit: https://news.gov.bc.ca/releases/2023HOUS0019-000436
To read the Homes for People action plan, visit: https://news.gov.bc.ca/files/Homes_For_People.pdf
A map showing the location of all announced provincially funded housing projects in B.C. is available online: https://www.bchousing.org/homes-for-BC
To learn about the steps the Province is taking to tackle the housing crisis and deliver affordable homes for British Columbians, visit: https://workingforyou.gov.bc.ca/
Connect with the Province of B.C. at: news.gov.bc.ca/connect