Eight figures in federal funding unveiled today, July 26, will help more affordable housing become available in Burnaby and New Westminster, local MPs say.
Burnaby North-Seymour MP Terry Beech announced $40.7 million in low-cost loans and contributions will repair and build 3,400 affordable homes in the two communities through Ottawa's federal Affordable Housing Fund.
One of the notable projects will benefit YWCA Marion's Place in Burnaby — the site of today's announcement — which will receive $3.2 million to build 32 homes.
The building will have a mix of two and three-bedroom apartments for women and their families that are living on low and moderate incomes.
The federal government noted the site is located close to Metrotown as well as grocery stores, library, Central Park and transit.
“Every person deserves a safe place to call home," Beech said in a statement.
"Burnaby is among the most expensive rental markets in Canada.
"That's why we are collaborating with local partners to increase the supply of affordable housing. Investing in low-cost housing not only helps to prevent homelessness and other unsafe living conditions but also supports economic opportunities for families in Burnaby. This initiative will make Burnaby an even more attractive place to live and work.”
Projects in Burnaby and New Westminster that will receive funding are as follows (in numerical order):
- Burnaby: BC Housing Repair Portfolio (province) - $19,170,000 (1,617 units)
- New Westminster: Affordable Housing Societies Repairs - $11,140,000 (1,114 units)
- Burnaby: Metro Vancouver Housing (portfolio of building retrofits and repairs) - $5,600,000 (560 units)
- Burnaby: L'Arche Greater Vancouver Sussex Redevelopment - $4,531,481 (62 units)
- Burnaby: Shelter YWCA Grange St. - $3,200,000 (32 units)
- New Westminster: Heat our Homes - $103,451 (16 units)
“Everyone deserves a place to call their own and the Affordable Housing Fund is one way we’re helping make that a reality for Canadians," Fraser added in the release.
"We will keep investing in affordable housing projects like the ones announced today, and we will continue to keep working with partners across the country to end the housing crisis once and for all."
Beech's announcement today was on behalf of Sean Fraser, Canada's Minister of Housing, Infrastructure and Communities.
