Four development projects that will provide 334 new affordable homes in Vancouver received approval for Community Housing Incentive Program (CHIP) grants totalling more than $9.6 million from the City of Vancouver today.
CHIP is a key way to deliver on the goals of Housing Vancouver by supporting the work of local non-profits who play an important role in delivering and operating housing affordable to low and moderate income households.
Building off the initial success of CHIP, the program was recently updated PDF file (229 KB) to address current economic conditions by expanding eligibility for projects with various levels of affordability and to better align with senior government funding.
“The updates made to our Community Housing Incentive Program today will help provide vital relief to the housing pressures faced by many of our residents,” says Mayor Ken Sim. “The City of Vancouver is focused on delivering more affordable housing and the impact of this grant funding cannot be overstated as it will enhance affordability of homes for those who need it most.”
Funding highlights:
- Entre Nous Femmes Housing Society received a grant for $5.37 million for the development of a 97-unit social housing building at 1656 Adanac Street.
- YWCA received a grant for $4 million for the development of a six-storey mixed-used rental housing building located at 388 Slocan Street. The building comprises 70 new affordable homes and the grant is for the 36 homes YWCA will acquire.
- First United Church Community Ministry Society and Lu’ma Native BCH Housing Society received a grant for an additional $30,000 for a 103-unit social housing project for urban Indigenous residents in the Downtown Eastside at 320 E Hastings. This project received a grant for $4.8 million in July 2022.
- Hopehill Living in Community Society received a grant for $233,000 for the development of 64 non-market rental homes for seniors at 3321 E 5 Ave.
Funded by revenue from the Empty Homes Tax and our capital budget, CHIP aims to help leverage senior government funding and targets a range of affordable housing projects by providing a capital contribution towards its construction.
For full details, review the reports approved by Council:
Community Housing Incentive Program (CHIP) Grants PDF file (216 KB)
Community Housing Incentive Program Recalibration PDF file (229 KB)