BURNABY,
BC, May 10, 2024 /CNW/ - Today, the federal,
provincial, and municipal governments announced more than
$54 million for 150 new affordable
rentals in the community.
The federal and provincial governments also announced an
additional $22.3 million in combined
funding to support the renovation and upgrades of up to 421 units
in two existing properties in Burnaby.
The first construction project is located at 6488 Byrnepark
Drive and will be owned and operated by the M'akola Housing
Society. The six-storey building will feature 130 homes - ranging
from studios to three-bedroom apartments - for low- to
moderate-income households. Seven of the homes will be accessible
and 19 will be adaptable for future accessibility needs. The
building will also have underground parking, an indoor amenity
room, a playground, dog run, and a park.
Rents will be a mix of rent-geared- to-income where residents
pay 30 percent of their income for rent, market rates and
deep-subsidy rates for people on income assistance. Final rental
rates will be determined closer to completion. Construction of the
building is expected to be complete in 2026.
Funding for the second building, located at 7898-18 Avenue, was
previously announced in 2021. Called Eunice Oh Residence, it is a
low-rise building featuring studio, one-, two-, and three-bedroom
apartments. It is complete, and residents will soon be moving into
their new homes.
The building is operated by the New Vista Society and offers a
mix of low-end market rents, rents geared to income and
shelter-rate homes for vulnerable seniors, families, and
individuals.
The funding for repairs and upgrades for New Vista Two Towers at
7210 Mary Ave, includes renovating the kitchens and bathrooms, as
well as replacing water and sewer lines, installing EV charging
stations and upgrading the building envelope. The funding for
Sunset Court at 5850 Sunset St. will support the installation of a
new boiler.
Funding provided for the projects are as follows:
- 6488 Byrnepark Drive
- $10.6 million from the federal
government, through the Affordable Housing Fund
- $23.5 million from the Province,
through BC Housing. This includes $14.7
million from the Building BC: Community Housing Fund and an
$8.8 million Cost Pressure Grant.
They will also provide$1.3 million in annual operating funding
- The City of Burnaby owns the
land valued at $13 million and is
leasing it to M'akola for a nominal fee. The City is also
contributing $1.4 million towards fee
waivers and site preparation and off-site servicing works.
- $867,000 in waiver fees from
Metro Vancouver
- Eunice Oh Residence
- $2.5 million from the Province,
through BC Housing from the Building BC: Community Housing Fund.
They are also providing $110,000 in
annual operating funding.
- $1 million contribution of joint
funding through the Canada –
British Columbia Bilateral Agreement under the National Housing
Strategy.
- The City of Burnaby provided
the land for the project, assessed at over $2.5 million, and is leasing the land at a
nominal rate. The City is also contributing over $1 million towards fee waivers for New
Vista.
- Sunset Court
- $15,915 from the federal
government through the Affordable Housing Fund
- New Vista Twin Towers
- $8.7 million from the federal
government through the Affordable Housing Fund
- $13.6 million from the Province
through a forgivable loan.
Quotes:
"Developing effective housing solutions relies on cooperation;
it's about working with local governments and stakeholders. These
projects demonstrate how collaboration among community-based
organizations, local authorities, and the federal government can
meet the housing needs of Burnaby residents. It's more than just
building 150 new units and upgrading over 400 others; it means
providing safety, security, and freedom to hundreds of families."
– The Honourable Terry Beech, Minister of Citizens'
Services and Member of Parliament for Burnaby North-Seymour on behalf of The
Honourable Sean Fraser, Minister of Housing, Infrastructure and
Communities
"By investing in affordable homes, we are ensuring that
communities remain livable with affordable options for growing
families and individuals working in the area. Burnaby is one of the
fastest growing communities in B.C. and we've stepped up to meet
that demand with our commitment to build 1,500 new affordable homes
by 2026." – Ravi Kahlon, BC Minister of
Housing
"These two buildings will be welcome in Burnaby, providing affordable housing options
that meet the needs of our growing community. These 150 homes will
offer families and working professionals the housing they need,
close to amenities and transportation." – Raj Chouhan, Member of
the Legislature for Burnaby-Edmonds
"We're proud to play an important role in bringing these
projects forward, as they deliver the types of housing that we
urgently need in Burnaby. These
are just a few of many projects underway where the City provides
land and other supports as part of partnerships to create new homes
at below-market rates."– Mike
Hurley, Mayor, City of
Burnaby
"M'akola is proud to announce the ground breaking of our first
Indigenous affordable housing project in the City of Burnaby. These homes are part of our
commitment to address urgent housing needs in communities across
B.C. while honouring the traditional territories of the hənq̓ əmin
̓ əm̓ ̓and Sḵwxwú7mesh sníchim speaking people. We are grateful for
the support of our partners in making this project a reality."
– Kevin Albers, CEO, M'akola Housing Society
"New Vista is so happy to have worked with the City of Burnaby and BC Housing to build and
open the Eunice Oh Residence on 18th Ave. The building will provide
much needed affordable housing to families, seniors, and persons
with disabilities for decades to come." – Darin
Froese, Chief Executive Officer, New Vista
Society
"AHMA celebrates Mayor Mike
Hurley for his ongoing commitment to housing equity and
solutions that include Indigenous Peoples. Rent-geared-to-income
works to create deep affordability that supports those suffering
most from housing precarity. Our member, M'akola is delivering
multiple developments for Indigenous and non-Indigenous people
alike and it makes a real difference when municipalities create
pathways to success." – Margaret Pfoh, CEO, Aboriginal
Housing Management Authority
"I am so pleased to see work begin on this important project,
which will provide much-needed housing for families and individuals
in Burnaby. Metro Vancouver is waiving development cost charges
for this and other eligible projects because we believe it's
important that all levels of government do what they can to
encourage the construction of new affordable homes."
– George V. Harvie, Chair, Metro Vancouver Board of
Directors
Quick facts:
- Canada's National
Housing Strategy (NHS) is a 10-year, $82-plus billion plan that will give more
Canadians a place to call home.
- NHS is built on strong partnerships between the federal,
provincial, and territorial governments, and continuous engagement
with others, including municipalities, Indigenous governments and
organizations, and the social and private housing sectors. This
includes consultations with Canadians from all walks of life, and
people with lived experience of housing need.
- All NHS investments delivered by the federal, provincial,
and territorial governments will respect the key principles of NHS
that support partnerships, people, and communities.
- The Affordable Housing Fund, previously the National
Housing Co-Investment Fund (NHCF), is a $13.2 billion program under the National Housing
Strategy (NHS) that gives priority to projects that help people who
need it most, including women and children fleeing family violence,
seniors, Indigenous peoples, people living with disabilities, those
with mental health or addiction issues, veterans, and young
adults.
- The projects are part of a $19-billion housing investment by the B.C.
government. Since 2017, the Province has more than 78,000 homes
delivered or underway, including more than 4,000 homes in
Burnaby.
Additional Information:
- Visit Canada.ca/housing for the most requested Government of
Canada housing information.
- CMHC contributes to the stability of the housing market and
financial system, provides support for Canadians in housing need,
and offers unbiased housing research and advice to all levels of
Canadian government, consumers and the housing industry. CMHC's aim
is that everyone in Canada has a
home they can afford and that meets their needs. For more
information, follow us on Twitter, Instagram, YouTube, LinkedIn and
Facebook.
- To find out more about the National Housing Strategy, please
visit www.placetocallhome.ca.
- To learn about B.C.'s new Homes for People action plan, visit:
https://news.gov.bc.ca/releases/2023HOUS0019-000436
- To learn about the steps the Province is taking to tackle the
housing crisis and deliver affordable homes for British Columbians,
visit: https://strongerbc.gov.bc.ca/housing/
SOURCE Canada Mortgage and Housing Corporation (CMHC)