VANCOUVER, BC, Aug. 9, 2024
/CNW/ - The Hastings-Sunrise neighbourhood in east Vancouver will soon have 146 new affordable
homes for seniors, families, and people with disabilities.
The Sunrise Village project at 2924 Venables Street, is a
partnership between the federal government, the provincial
government, the City of Vancouver,
Metro Vancouver, and Brightside Community Housing.
Funding for this project includes:
- $10.95 million from the federal
government, through the Affordable Housing Fund
- $15.9 million from the Province
of British Columbia, through BC
Housing
- $23 million in land equity from
Brightside Community Housing
- $5.5 million Community Housing
Incentive Program (CHIP) grant from the City of Vancouver and a Development Cost Levy
(DCL) exemption valued at over $3
million
- $156,512 from Metro
Vancouver
- $226,884 from Translink
The two new buildings are replacing an aging building with 64
apartments.
Construction is underway and expected to complete in 2026.
"Today's announcement demonstrates how the federal government is
working with partners from all levels of government and non-profit
organizations to create much needed affordable housing in
Vancouver. We will keep investing
in affordable housing projects like the one announced today, and
working with partners across the country, to end the housing
crisis." – The Honourable Hedy Fry, Member of Parliament for
Vancouver Centre, on behalf of the Honourable Sean
Fraser, Minister of Housing, Infrastructure and Communities
"Vancouver is a world-class
city and that makes it especially challenging for seniors and
families to find housing they can afford close to the amenities
they need. That's why our government is taking action to deliver
housing of all kinds, including more projects like Sunrise Village
that create new multi-generational communities where people of all
ages can thrive together." – The Honourable
Ravi Kahlon, Minister of Housing for the Province of
BC
"This project embodies our city's spirit of diversity and
resilience, offering a range of affordable and attainable housing
options that cater to the needs of our residents. By investing in
projects like Sunrise Village, we are ensuring that Vancouver remains a vibrant, inclusive, and
accessible city for all." – Ken Sim, Mayor,
City of Vancouver
"We are tremendously proud to be breaking ground on this
long-awaited redevelopment, with thanks to all levels of government
for the funding support that helped make this happen. The 146 homes
that we will be opening here at Sunrise Village will offer
genuinely affordable rental options in a multi-generational
community of families, independent-living seniors, and people with
disabilities. Sunrise Village will be constructed to Passive House
certification standards, offering sector-leading
zero-carbon energy efficiency and true affordability in the
Hastings-Sunrise community." – William Azaroff, Chief Executive Officer,
Brightside Community Homes Foundation
Quick facts:
- The Affordable Housing Fund (AHF) provides funding
through low-interest and/or forgivable loans or contributions to
help build new affordable housing and renovate and repair existing,
affordable and community housing.
- Through the 2023 Fall Economic Statement, the government
announced an additional $1 billion
for the Affordable Housing Fund, bringing the total funding to over
$14 billion. To further support
non-profit, co-operative, and public housing providers and respond
to the needs of those most impacted by the housing crisis, Budget
2024 committed an additional $1
billion to the fund.
- This program under the National Housing Strategy (NHS) 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.
- As of March 2024, the federal
government has committed $50.97
billion to support the creation of over 146,000 units and
the repair of over 286,000 units.
- These projects are part of a $19-billion housing investment by the B.C.
government. Since 2017, the Province has delivered nearly 80,000
new homes that have been completed or are underway, including more
including more than 7,600 in Vancouver.
- The Province has provided a $29.6
million equity contribution through BC Housing's Supportive
Housing Fund, and and BC Housing will retain ownership of 57
supportive housing units upon completion.
Related links:
- 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)