83 new affordable homes completed in Downtown Vancouver

The City of Vancouver marked the successful completion of 83 new affordable homes for individuals, seniors, people living with disabilities and families.

These homes, which are part of a mixed-use residential building, were transferred to the City from Asia Standard Americas and secured through the City’s inclusionary zoning policies under the West End Community Plan. This collaboration highlights the City’s commitment to ensuring affordable housing is included across all Vancouver neighbourhoods.

“This collaboration is a testament to the City’s ongoing efforts to provide diverse and attainable housing for all who want to call Vancouver home,” says Mayor Ken Sim.

The City of Vancouver owns and operates the social housing units located at 808 Nicola Street offering a variety of options including studio, one-bedroom, two-bedroom and three-bedroom homes. With 42 units designed for families and five accessible units for people living with disabilities, these homes cater to diverse needs.

To ensure affordability, at least 30 per cent of homes will be rented to households with incomes at or below the housing income limits (HILs) as defined by BC Housing. The remaining units will be rented at a discount from market no less than 10 per cent, providing a range of rental options.

Residents will enjoy indoor and outdoor amenities, including a children’s play area and an urban agriculture area. Located downtown, the building is just a short walk from services, shops, recreation and public transit.

In addition to the social housing units, the new building developed by Asia Standard Americas features office, retail and restaurant spaces, as well as 236 strata-market units. This mixed-use development will contribute to a lively community atmosphere while helping to create an inclusive neighborhood with a variety of housing types for people with various income levels.
 
“Asia Standard Americas is committed to this progressive housing policy. We aim to recognize all the work done so far and reaffirm support for continuing efforts to establish Vancouver as a model of inclusive, sustainable community planning,” says Henry Mok, Vice President, Sales & Marketing, Asia Standard Americas.

Since 2017, nine projects, totalling over 700 units of social housing, have been completed in partnership with developers, and handed over to the City, with two more projects currently under construction.