MLA Bowinn Ma welcomes the opening of more affordable rental housing
NORTH VANCOUVER – BC NDP MLA Bowinn Ma is welcoming 86 homes for independent seniors, individuals and families with low to moderate incomes opening at Hollybrook through the provincial government’s Community Housing Fund.
“People are struggling to find reasonably priced homes that meet their needs, and we’re taking action to change that. We’re working to get more new rentals built so more people can find a home they can afford, in the community they love,” said Bowinn Ma, MLA for North Vancouver – Lonsdale. “The new Hollybrook Affordable Rental Housing is a great example of our progress, and I’m so excited see this project up and running, and serving this community.”
This development, located at 600 West Queens Road in the District of North Vancouver, is part of the Community Housing Fund (CHF) program, which is a $3.3-billion investment to deliver and operate more than 20,000 affordable rental homes for people with moderate and low incomes by 2031-32.
Through this program, more than 13,000 of these homes are open or underway throughout the province.
Facts:
- The four-storey, wood-frame building has 1-, 2- and 3-bedroom homes, all owned and operated by the Hollyburn Community Housing Society.
- The Hollyburn Community Housing Society is a non-profit that has been providing housing to vulnerable youth, seniors and families in Metro Vancouver since 2004.
- As a CHF development, the rents will be split as follows:
- 70% of residents pay rent geared to income, where rent is generally based on 30% of household income. (tenants selected by the operator from the Housing Registry)
- This includes 20% of units for residents with very low incomes, such as those receiving income or disability assistance.
- The remaining units are set at affordable market rates (tenants selected by the operator)
- 70% of residents pay rent geared to income, where rent is generally based on 30% of household income. (tenants selected by the operator from the Housing Registry)
The Province contributed approximately $15.5 million to the capital costs of the development and will provide an annual operating grant.
To read the government announcement about this project from 2024: https://news.gov.bc.ca/30385