Vancouver, BC: The Government of Canada is allocating $31.8 million in federal funds to support two projects designed to create 88 new affordable homes for individuals and families in Vancouver through the Cities Stream under the expanded Rapid Housing Initiative (RHI).
The B.C. government will support the new housing with annual operating funding.
The details were announced by Ahmed Hussen, Minister of Housing and Diversity and Inclusion, along with Harjit Sajjan, Minister of International Development and Minister responsible for the Pacific Economic Development Agency of Canada and Member of Parliament for Vancouver South, Hedy Fry, Member of Parliament for Vancouver Centre, Taleeb Noormohamed, Member of Parliament for Vancouver Granville, and Kennedy Stewart, Mayor of Vancouver.
The first project, located at 162 Main St., will provide 68 homes, while the second project, located at 545 E Cordova St., will provide 20 homes.
Both projects are located in Vancouver’s Downtown Eastside and will prioritize Indigenous Peoples and women and children, and will also serve the LGBTQ2+ community and those at risk of homelessness.
Lookout Housing and Health Society will operate the project at 545 E Cordova St. BC Housing will work with the City of Vancouver to select an experienced non-profit operator for the project at 162 Main St.
Both projects are expected to begin construction in the coming weeks and be ready for occupancy by December 2022. This is in addition to the Government of Canada’s previous investment of $51.5 million through the Major Cities Stream of the first phase of the RHI to support the creation of up to 135 new affordable homes in Vancouver.
In its initial round, with funding of $1 billion announced in October 2020, the RHI exceeded its original target of 3,000 permanent affordable housing units and achieved 4,700 units nationally.
Due to this success, an additional $1.5 billion for the RHI was recently announced to create 4,500 new units of permanent affordable housing across the country. Thanks to this expansion, this initiative will now create over 9,200 affordable homes for the most vulnerable Canadians across the country.
This new investment will create thousands of good jobs in the housing and construction sector, grow the middle class, and build back stronger communities, while getting us closer to our goal of eliminating chronic homelessness in Canada.
Ahmed Hussen said: “Every Canadian deserves a safe and affordable place to call home. Today’s funding through the Rapid Housing Initiative will go a long way to support those who need it most by quickly providing 88 new affordable homes for Vancouver’s most vulnerable populations, to keep them safe. This is one of the ways our National Housing Strategy continues to ensure no one is left behind.”
Harjit Sajjan said: “We know that everyone in British Columbia, and across Canada, deserves adequate and affordable housing. Today, our government’s expansion of the Rapid Housing Initiative is helping Vancouver increase its supply of new affordable homes for our most vulnerable populations. When these projects are complete, they will offer new homes for Indigenous Peoples and women and children, and will also serve the LGBTQ2+ community and those at risk of homelessness.”
Taleeb Noormohamed, Member of Parliament for Vancouver Granville, added: “Every Canadian deserves a safe and affordable place to call home. This investment into improving affordable housing in our city is facilitating real change for those that need it most. These projects are a result of great partnerships, coming together to respond to a grave housing need in Vancouver. This is the Rapid Housing Initiative at work.”