SENIORS in Vancouver now have access to increased housing in their community with 58 new affordable rental homes opening on the Fraser Street corridor.
“This new seniors’ co-op building is an example of the types of housing options that people need, and shows our government is increasing housing stock faster than ever to tackle the housing crisis,” said Ravi Kahlon, Minister of Housing, on Monday. “With this investment, we are ensuring that the building continues to benefit seniors by providing ongoing affordable housing under the co-operative model, in the community they know with friends, family and services they rely on.”
The project, named the North Arm Housing Co-operative, is a six-storey building with a mix of studio and one-bedroom apartments for seniors with low or moderate incomes.
“It is so important for seniors on fixed incomes to be able to access a good and affordable home. This increased housing will benefit seniors and the community for years to come,” said Harwinder Sandhu, Parliamentary Secretary for Seniors’ Services and Long-Term Care. “Thank you to the Community Land Trust for working with us to deliver these much-needed homes. I am proud of our government’s partnerships with local organizations and our ongoing historic investments to address housing availability across the province.”
Located at 710 19th Avenue East, the building will operate as a co-operative and will be managed by the Community Land Trust of British Columbia (CLTBC).
“The North Arm Housing Co-op will provide seniors in Vancouver with quality and affordable homes close to friends, loved ones and the amenities that Vancouver has to offer,” said Mable Elmore, MLA for Vancouver-Kensington. “Thank you to the Community Land Trust and the City of Vancouver for working to improve the quality of life of seniors in Vancouver.”
In addition, 411 Seniors Centre Society will operate a seniors’ centre on the main floor, complete with a commercial kitchen, multipurpose space and office space. The building is now open and the co-op and Community Land Trust are welcoming members to their new homes.
“The city is proud of the partnership we have with BC Housing and the Community Land Trust to create solutions and build more homes for seniors in Vancouver,” said Ken Sim, mayor of Vancouver. “We know seniors need access to social connection, community and a safe way to maintain their independence. It is living spaces like the North Arm Housing Co-op that offer seniors affordable stability with the supports they need. Vancouver will always advocate for more housing at every opportunity, with a focus on safe and attainable housing for everyone who calls this city home.”
BC Housing provided grant funding of approximately $10.8 million for the project. The City of Vancouver is leasing the land, valued at approximately $6.38 million, to the CLTBC at a nominal rate and has contributed more than $800,000 in development fee exemptions plus another $800,000 in rental grant funding for the new 411 Seniors Centre in the same building.
“The Community Land Trust is very pleased to partner with the Province and the City of Vancouver to offer 58 safe, secure, permanently affordable homes to seniors in a co-operative community,” said Thom Armstrong, CEO of the Co-operative Housing Federation of BC. “This is an example of the outcomes we can create through active partnerships between the community housing sector and all levels of government.”
The project is part of a $19-billion housing investment by the B.C. government. Since 2017, the Province has delivered more than 76,000 new homes for people in B.C., including nearly 8,000 homes in Vancouver.