May 4th, 2018
Richard Zussman, Global News
It’s being touted as the “largest one-time municipal land investment” in Canadian history. The city of Vancouver has announced the Community Land trust is going to build almost 1,000 affordable rental units on city land.
The new suites are targeted at renters who make $30,000 and $80,000 a year. There will be seven sites for development, including three downtown that will include 400 units.
“Hopefully there will be some units at welfare rates, right up to probably $1,800 to $2,000 per month for the family units,” said Vancouver Mayor Gregor Robertson. “With today’s announcement, Vancouver has made the single largest investment into non-market housing of any city in Canada. This is the latest step we have taken to make sure that people with low to middle incomes can find a home and build a future in our city.”