Vancouver opens 264 units of affordable rental housing

Two new rental buildings – one at 188 East 6th Avenue and another at 3625 Sawmill Crescent – opened Thursday.

Article content

Two new affordable rental apartments officially opened Thursday in Vancouver.

Article content

The Housing Minister of Canada Ahmed Hussen and Vancouver Mayor Kennedy Stewart attended the opening of the 145th Aspen, located at 188 East 6th Avenue.

The project received federal funding from $ 48.5 million and the city provided land for the site’s 60-year lease, valued at $ 16.85 million, the federal government said in a press release Thursday.

“These 264 new affordable rentals are the newest in thousands of homes approved and in operation that help build Vancouver that works for all of us,” Stewart said in a statement.

Tremolo , developed by Catalyst Developments, offers a mix of studio, one, two and three bedroom units, and is pet-friendly. It also has a communal garden and has a health center on the ground floor, according to the city.

Article content

The city and federal government also opened another building called Alder, located at 3625 Sawmill Crescent, as well as Catalyst Developments.

The five-story apartment building has 119 new rental units and has received federal funding of $ 39.8 million.

Vancity Credit Union and the Vancity Community Fund provided $ 1 million in pre-development and $ 50,000 in pre-construction funding for the project, in partnership with CMHC through the Vancity Affordable Housing Accelerator Fund.

The city says 70 percent of these units will be below average market earnings rates, and the remaining 30 percent will be at or below the Housing Income Limits.

ticrawford@postmedia.com

Leave a Comment