Federal Government Pledges $184 Million To Build Affordable Housing In Vancouver

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Affordable Housing Vancouver

The Government of Canada has pledged $184 million to Vancouver to fund construction of affordable housing in the city.

This pledge comes as part of the federal government’s $55 billion National Housing Strategy, which, among other goals, strives to greatly decrease homelessness.

The $184 million is expected to be sourced from the Canada Mortgage and Housing Corporation (CMHC).

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The new project will help build an estimated 1,100 units of affordable housing spread across the Metro Vancouver region. At this time, locations that have been identified as sites are:

  • 1001 Kingsway
  • 1210 Seymour Street and 560 Davie Street
  • 177 West Pender Street
  • 3310 Marine Way
  • 3279-3297 Vanness Avenue
  • 1190 Burrard Street and 937 Davie Street
  • 3183, 3245 Pierview Crescent
  • 288 East Hastings Street
  • 2305-2344 Vanness Avenue

“Today is a great day for housing in Vancouver. The federal government is making an historic investment in housing that will help provide a safe and affordable place to call home for up to 1,100 families,” said Jean-Yves Duclos, a minister in charge of the CMHC.

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The first of these affordable housing projects has already begun. The 140-unit co-op is being built in Vancouver’s River District and is projected to open in 2020.

For more Vancouver real estate news, stay tuned to our Real Estate section.

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