Broadway Corridor Updates

[mcj]

Originally Posted by LeftCoaster

Looks great, especially for a rental.

Curious if their little blurb about being inundated by applications is true or just a bit of a marketing ploy.

I would imagine a non-profit has more incentive to build a nice building than a for-profit does and that's likely a factor as to why it looks so good. Less corners get cut in the name of profit.

[LeftCoaster]

Had no idea it was social housing. Even more impressive.

[jollyburger]

Funding:

$9.94 million from the federal government, through the National Housing Co-Investment Fund;
Approximately $64.6 million from the provincial government, through BC Housing, including approximately $14.1 million through the Building BC: Community Housing Fund and approximately $50.5 million in financing;
$6 million from the City of Vancouver through its Community Housing Investment program; and
The Federation of Canadian Municipalities’ Green Municipal Fund, endowed by the Government of Canada, has provided a $175,000 grant for the study of the build of the energy-efficient affordable housing units.

https://www.cmhc-schl.gc.ca/media-newsro...ffordable-homes-women-underway-vancouver

Total Homes 135
Breakdown Deeply affordable: 27 ; Rent Geared to Income: 67 ; Moderate Income: 41

Deeply Affordable – A home that is affordable to people on a very limited income, such income assistance, disability assistance, and income support programs for seniors.

Rent Geared to Income – A home that is available to people with modest incomes. Rent is calculated to be affordable based on the tenant’s income.

Moderate Income – A home that is available for a monthly rent that is equal to the low-end of rents available in the private market. Also referred to as ‘Middle Income’ and ‘Affordable Market’.

https://www.vahaf.ca/project-listings/listing/546-w-13th-ave/

[mcj]

Originally Posted by jollyburger

Funding:



https://www.cmhc-schl.gc.ca/media-newsro...ffordable-homes-women-underway-vancouver

Total Homes 135
Breakdown Deeply affordable: 27 ; Rent Geared to Income: 67 ; Moderate Income: 41

Deeply Affordable – A home that is affordable to people on a very limited income, such income assistance, disability assistance, and income support programs for seniors.

Rent Geared to Income – A home that is available to people with modest incomes. Rent is calculated to be affordable based on the tenant’s income.

Moderate Income – A home that is available for a monthly rent that is equal to the low-end of rents available in the private market. Also referred to as ‘Middle Income’ and ‘Affordable Market’.

https://www.vahaf.ca/project-listings/listing/546-w-13th-ave/

So $80.7M or ~$600k per unit? Assuming land costs were covered already, that's very understandable why it's a nice building at that cost.

[jollyburger]

Originally Posted by mcj

So $80.7M or ~$600k per unit? Assuming land costs were covered already, that's very understandable why it's a nice building at that cost.

They owned the land with a 20 unit building that was torn down for this project.

The development consultant said it was $85 million for the project

https://www.purposedrivenroi.com/soroptomist-house

They are also part of the project with Kiwanis for $500 million with four towers at SE Marine Drive

[jollyburger]

They toned down the white/black pattern at 2245-2283 W Broadway



https://www.shapeyourcity.ca/2245-2283-w-broadway