Government provides funds to underpin social housing project
LONDON: A new style social housing community concept is to be partially funded by government.
The federal government has announced it will contribute $44.5 million towards Brightside Community Homes Foundation’s new social housing complex in the Grandview-Woodland neighbourhood of East Vancouver.
The redevelopment at 1425-1451 East 12th Avenue will replace two aging seniors social housing buildings with a pair of two new six-storey buildings, containing 157 units for seniors of low and moderate incomes and with physical disabilities. This represents a net gain of 100 units compared to the 57 units in the existing structures.
The project has also received $2.6 million in pre-development financing from BC Housing, and an investment of $10 million from the Federation of Canadian Municipalities.
As well, the project is exempt from development fees typically collected from the City of Vancouver, Metro Vancouver Regional District, and TransLink.
Both buildings will be built to a Passive House green building standard. The project’s rezoning application was approved by Vancouver City Council in July 2020.
“This is an important project for Brightside as the new buildings will support the needs of current and future residents, helping ensure seniors are able to remain in their community and age in place.”
“With funding in place, we are excited to begin construction and look forward to welcoming residents to their new homes and seeing the community grow.” said William Azaroff, CEO of Brightside, in a statement.
