FAMILIES and seniors with low to moderate incomes have moved into 20 new affordable rental homes in Burnaby.
“Susana Cogan Place provides stability and security through affordable housing for people to live, work and retire in the community they know, here in Burnaby,” said Ravi Kahlon, Minister of Housing, on Wednesday. “Our government is building housing at a historic rate and these 20 new homes are another example of how we can work together to build a province where everyone has a good place to call home and no one gets left behind.”
Located at 6438 Byrnepark Drive, Susana Cogan Place is a 20-unit development with a mix of studio, one- and two-bedroom homes. It is a part of a larger five-storey, 122-unit condominium known as Byrnepark by Polygon.
“I am delighted to see Susana Cogan Place and its new affordable rental homes open in our community,” said Raj Chouhan, MLA for Burnaby-Edmonds. “These new cost-effective homes will provide a sense of well-being and a place for many families and seniors to call their own.”
Each home at Susana Cogan Place is equipped with a range, fridge, dishwasher, microwave, and washer and dryer. Residents also have access to condominium amenities, including a playground, lobby, lounge and an outdoor barbecue area.
“These homes are a welcome addition to the Burnaby community,” said Anne Kang, MLA for Burnaby-Deer Lake. “We know more housing like this is needed to help people live affordably, which is why our government will continue to work with all partners to boost the supply of affordable housing in Burnaby, Lower Mainland, and throughout the province.”
Tikva Rental Housing Society, an experienced non-profit housing provider, will own and operate the homes. With this opening, Tikva’s portfolio has increased to 168 units in seven housing developments, expanding Tikva’s operations to Burnaby.
Monthly rents for the 20 homes range between $375 for a studio unit to $1,640 for a two-bedroom home.
“The investments we’ve made as a city into affordable housing are beginning to pay off in Burnaby and it’s encouraging to see tenants moving into their affordable units at Susana Cogan Place,” said Mike Hurley, Mayor of Burnaby. “These units are priced well below the market rate, something that is only possible thanks to the close collaboration between BC Housing, the Province and the City of Burnaby.”
The Province, through BC Housing, provided approximately $3 million to the project through the Building BC: Community Housing Fund and will provide an annual operating subsidy of approximately $74,000.
This project is part of a $19-billion housing investment by the B.C. government. Since 2017, more than 76,000 new homes have been delivered by the Province or are underway, including more than 4,000 homes in Burnaby.
