FAMILIES, seniors and individuals in Burnaby will benefit from nearly 1,500 new affordable rental homes with the Province investing approximately $253 million to build several new developments, the Province announced on Monday.
“Burnaby is one of the fastest-growing cities in B.C., making the demand for affordable housing in the community among the highest in province,” said Premier David Eby on Monday. “That’s why we’re working with the City of Burnaby and other partners to build about 1,500 new affordable homes, including some specifically for Indigenous people, seniors facing homelessness, families with low incomes and people living with disabilities. The addition of these homes will be key to help people in Burnaby who are searching for affordable housing.”
Of the nearly 1,500 new homes:
* 305 units at three developments are expected to start construction by late 2023;
* 790 units at four major housing projects currently in development;
* 390 units at three developments that are currently under construction and are expected to be complete by 2025-26; and
* Provincial funding ensures that the projects remain viable despite rising construction costs and that rents will remain affordable.
Confirmed projects are:
* 7392 16th Avenue: 203 homes, under construction, expected to be complete in 2025.
* 6889 Royal Oak Avenue: 134 homes, under construction, expected to be complete in 2025.
* 6608-6652 Sussex Avenue: 53 homes, under construction, expected to be complete by 2026.
* 3802 Hastings Street: 161 homes, construction expected to start in late 2023.
* 6488 Byrnepark Drive: 130 homes, construction expected to start in late 2023.
* 7492 Holly Street: 14 homes, construction expected to start by fall 2023.
“Burnaby is a key partner in our work to bring much-needed homes to the Metro Vancouver area, as we build more homes than ever before in B.C.,” said Ravi Kahlon, Minister of Housing. “People love living and working in B.C. It’s why we are seeing unprecedented immigration levels and the demand shows in Burnaby. That’s why we’re bringing nearly 1,500 affordable rental homes to the people who want to live in the community they know and love.”
As part of this investment, the Province has committed approximately $186.4 million through Budget 2023 to build four major housing developments that will provide approximately 790 rental homes in the community. Further details and updates will be provided as plans for each project are finalized. The funding is part of a memorandum of understanding between the Province, through BC Housing, and the City of Burnaby to build new affordable housing in the region.
“Creating new affordable housing for families, seniors and individuals is one of the top priorities for our community and we’re pleased to work together with our provincial partners to deliver the type of housing that our community desperately needs,” said Burnaby Mayor Mike Hurley. “This investment supports the work we’re already doing in Burnaby, as there are now more non-market rental units in development than market rentals – a sign that our approach to developing affordable housing is paying off for Burnaby residents.”
These projects are part of a $19-billion housing investment by the B.C. government. Since 2017, the Province has more than 76,000 new homes have been delivered or are underway, including more than 4,000 homes in Burnaby.
BACKGROUNDERÂ
Facts about Burnaby housing projects
7392 16th Avenue:
* 203 rental homes, including 41 accessible units, for individuals, families and people living with disabilities with low to moderate incomes.
* Currently under construction and expected to be completed in 2025.
* The six-storey building will include studio, one-, two- and three-bedroom units.
* The Province is providing a $16-million grant to the project.
* The City of Burnaby provided the land and is providing a grant of approximately $989,000.
* CMHC contributing $64 million in financing.
* Catalyst Community Developments Society will operate the building.
6889 Royal Oak Avenue:
* 134 rental homes, including 27 accessible units, for individuals, families and people living with disabilities with low to moderate incomes.
* Currently under construction and expected to be complete in 2025.
* The six-storey building will include studio, one-, two- and three-bedroom units.
* The Province is providing an $11-million grant to the project.
* The City of Burnaby provided the land and is providing a grant of approximately $448,000.
* CMHC contributing $49 million in financing.
* Catalyst Community Developments Society will operate the building.
6608-6652 Sussex Avenue:
* 53 rental homes for people with middle incomes; part of a development that will also include 285 strata units.
* Currently under construction and expected to be complete in 2026.
* The four-storey building will include studio, one- and two-bedroom units.
* The Province is a providing a grant of $15.8 million for the 53 rental homes, as well as approximately $4.9 million in construction financing to Keltic Development through BC Housing’s HousingHub.
* The New Vista Society will operate the 53 rental homes.
3802 Hastings Street:
* 161 rental homes for seniors and families with low to moderate incomes.
* The six-storey building will include studio, one-, two- and three-bedroom units.
* The project will also include a 74-space child-care facility.
* Construction is expected to start in late 2023.
* The Province is providing approximately $17.6 million through the Building BC: Community Housing Fund, plus an additional grant of $10.9 million to address cost pressures to ensure the project remains affordable.
* The Ministry of Education and Child Care is providing a $6.8-million grant for the child-care spaces.
* The land is owned by the City of Burnaby and will be leased to the non-profit operator at a nominal fee.
* S.U.C.C.E.S.S. Affordable Housing Society will operate the building.
6488 Byrnepark Drive:
* 130 rental homes for Indigenous and non-Indigenous individuals and families with low to moderate incomes.
* The six-storey building will include studio, one-, two-, and three-bedroom units.
* Construction is expected to start in late 2023.
* The Province is providing approximately $14.7 million through the Building BC: Community Housing Fund, plus an additional grant $8.8 million to address cost pressures to ensure the project remains affordable.
* The City of Burnaby is providing the land.
* M’akola Housing Society will operate the building.
7492 Holly Street:
* 14 beds of supportive living for people who are living with mental illness and who may be experiencing or at risk of homelessness and have health care needs.
* Construction is expected to start by fall 2023.
* The Province is providing a grant of $4 million.
* Progressive Housing Society is providing the land and will operate the building.
* Fraser Health will provide annual operating funding.
