Affordable co-op housing project kicks-off in Vancouver

Jenny Cameron / October 25, 2018

Luke Harrison, Gregor Robertson, Tiffany Duzita and Thom Armstrong announce new co-op housing units. (Sierra Simpson / BCITNews).

140 units of affordable housing in South Vancouver’s River District are being built as part of a larger plan to provide 1,000 affordable housing rental units in Vancouver.

Mayor, Gregor Robertson, says these homes target people who earn between $41,500 and $125,000 per year.

30% of these units are being saved for households earning less than $68,000 per year.

The building is expected to be completed within two years.

“It’s really about filling in that missing middle housing gap for people on middle incomes spread throughout the city”- Gregor Robertson, Mayor of Vancouver.

More than 100 of the 140 units are designed for families, including 37 three-bedroom townhomes.

Rental costs:

  • Studios: $1,038
  • One-bedrooms: $1,200
  • Two-bedrooms: $1450
  • Three-bedroom: $1,700

Executive Director of Community Land Trust, Thom Armstrong, says the new affordable housing endowment fund will help ensure a more permanent solution to tackle the affordability crisis in Vancouver.

Robertson says he is hopeful the new mayor and council will focus on what they can do on city land.

“We are already on record pace to build and open affordable co–op housing here in Vancouver. The strongest pace the city has seen in decades.” – Gregor Robertson, Mayor of Vancouver.

In May 2018, Robertson and CEO of the Vancouver Affordable Housing Agency Luke Harrison announced seven sites of city-owned land will be developed into 1,000 new affordable rental units.

Click here to view a map of the sites.

With files from Sierra Simpson