More Homes, More Affordability
The City of Vancouver is seeking proposals to see about 500 new units of affordable rental housing built on six City-owned sites by the end of 2015. Its part of the recently launched More Homes, More Affordability program, which aims to foster creative solutions to the City’s affordable housing challenges.
“Increasing affordable housing options in Vancouver is a top priority for this council, and this is our latest step to get affordable housing built now,” said City of Vancouver Mayor Gregor Robertson. “Ensuring that Vancouver has affordable housing is crucial to building an inclusive, diverse city that supports local jobs and investment, limits sprawl, and creates opportunity for people of all ages.”
Six potential sites have been identified in Kensington-Cedar Cottage and Killarney. The land is being made available for redevelopment to successful consortia of not-for-profit and private sector applicant teams in exchange for a nominal, long-term ground lease.
“We need a wide range of new housing in Vancouver to address our affordability crisis,” added Mayor Robertson. “The housing we want to produce through More Homes, More Affordability is targeted to people who can only afford rents that are below the current market levels.”
Read more at the City of Vancouver.