The B.C. government says hundreds more affordable homes are coming to Metro Vancouver.
Premier David Eby announced Thursday the second phase of a housing partnership between the province, Metro Vancouver, and non-profit housing providers that will deliver 670 below-market rental units.
He says Phase 2 follows a memorandum of understanding signed last year between the governing bodies to create 2,000 affordable rental homes over the next decade.
“Safe, secure and affordable housing lifts up families, communities and our entire province,” said Eby. “That’s why our government is taking action with a clear plan that puts people who live and work in our communities ahead of speculators who just want to make a quick buck at the expense of hard-working people. By partnering with Metro Vancouver, we are helping thousands of people find homes they can actually afford, so they can build good lives in our growing communities.”
The provincial government will provide $226 million, and Metro Vancouver will contribute land and cash worth more than $367 million towards Phase 2.
Phase 2 projects are planned for the following sites:
- 1144 Inlet Street, Coquitlam (Malaspina Village Phase 2)
- Old Dollarton Road and Riverside Drive, North Vancouver (Riverside Drive)
- 2933 Heather Street, Vancouver (Heather Place C)
- 100 Nelson Street, Coquitlam (Park Court)
Eby says the partnership is a good example of the type of cooperation between levels of government needed to address the housing crisis.
“Without question, to address the housing crisis, all levels of government have to work together. The municipal governments, the provincial government, the federal government, First Nation governments… If we’re not all pulling together, we’re not going to be able to address this the way that we should.”
Metro Vancouver Housing says it is one of the largest non-profit housing providers in B.C., with more than 3,400 affordable rental homes on 49 sites, serving close to 10,000 people.
The province says the Phase 2 projects are part of a $19 billion housing investment. Since 2017, the province claims to have delivered — or be developing — nearly 40,000 homes in Metro Vancouver.