With Burnaby still losing purpose-built rental homes, the B.C. government has announced it will invest $253 million across 10 Burnaby developments that will bring around 1,500 new affordable rental homes to the city.
Some of the developments are specifically for Indigenous people, seniors facing homelessness, low-income families and people with disabilities.
The City of Burnaby is providing land for at least four of the projects.
“Unfortunately, too many British Columbians are struggling to find housing that they can actually afford … especially in fast-growing cities, including right here in Burnaby,” Premier David Eby said at a press conference on June 19. “We need to do more together."
He noted Burnaby is one of the fastest growing cities in B.C., making the demand for affordable housing in the city among the highest in the province.
Burnaby has the third highest rents in the country, and the second highest when it comes to apartments and condos.
The provincial investment is going to fund the following projects:
- 7392 16th Ave.: 203 rental homes, under construction, expected to be complete in 2025. This six-storey building will be for individuals, families and people living with disabilities with low to moderate incomes. The province is providing a $16-million grant. The City of Burnaby provided the land as well as a grant of about $989,000. CMHC is contributing $64 million in financing. Catalyst Community Developments will operate the building.
- 6889 Royal Oak Ave.: 134 rental homes, under construction, expected to be complete in 2025. This six-storey building will be for individuals, families and people living with disabilities with low to moderate incomes. The province is providing an $11-million grant. The City of Burnaby provided the land, as well as a grant of about $448,000. CMHC is contributing $49 million in financing. Catalyst Community Developments will operate the building.
- 6608-6652 Sussex Ave.: 53 rental homes, under construction, expected to be complete by 2026. This four-storey building is part of a development including 285 strata condos; the rental units will be for people with middle incomes. The province is providing a grant of $15.8 million for the 53 rental homes and $4.9 million in construction financing to Keltic Development through BC Housing’s Housing Hub. The rentals will be operated by the New Vista Society.
- 3802 Hastings St.: 161 rental homes, construction expected to start in late 2023. The six-storey building will be for seniors and families with low to moderate incomes. The project includes a 74-space child-care facility. The province is providing about $17.6 million through the Building BC Community Housing Fund, as well as a 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 SUCCESS Affordable Housing Society at a nominal fee.
- 6488 Byrnepark Dr.: 130 rental homes, construction expected to start in late 2023. The six-storey building will be for Indigenous and non-Indigenous individuals and families with low to moderate incomes. The province is providing about $14.7 million through the Building BC Community Housing Fund, as well as a grant of $8.8 million “to address cost pressures to ensure the project remains affordable.” The City of Burnaby is providing the land and M’akola Housing Society will operate the building.
- 7492 Holly St.: 14 homes, construction expected to start by fall 2023. The project is 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. 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.
Those developments make up 695 homes; the province’s investment also includes $186.4 million for four major housing developments of about 790 rental homes. Further details will come “as plans for each project are finalized,” according to the press release.
Non-market housing providers include M’akola Housing Society, New Vista Society, SUCCESS Affordable Housing Society, Catalyst Community Developments Society and Progressive Housing Society.
Four of the projects (790 units) are currently in development, 205 units will begin construction by the end of this year, and 390 units are currently under construction and expected to be complete by 2026.
