Canada and BC support new homes in Coquitlam

Seniors, families and people living with disabilities have moved into 12 new affordable and safe rental homes in Coquitlam.

Today, the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, Ron McKinnon, Member of Parliament for Coquitlam – Port Coquitlam , Ravi Kahlon, BC Minister of Housing, Selina Robinson, Member of the Legislative Assembly for Coquitlam – Maillardville, Richard Stewart, Mayor of Coquitlam, and Ken Fraser, Executive Director, Vancouver Resource Society (VRS) Communities, announced a combined investment of $3.7 million for VRS Communities’ purchase of 12 homes.

Located at 1045 Austin Ave., the rental homes are part of The Heights on Austin, a Beedie Living 25-storey, 189-unit, studio, one-, two- and three-bedroom plus townhomes development. The mix of VRS Communities’ one- and two-bedroom homes are located throughout the tower. Monthly rents are below market rate and range from $375 for a one-bedroom to $2,470 for a two-bedroom home.

The rental homes are owned and operated by VRS Communities. The 12 units are designed specifically to meet VRS requirements for accessibility, including wheelchair-accessible kitchens and bathrooms. In addition, VRS will provide support services to residents to help them fully access and integrate into the community.

Funding provided for this project is as follows:

• $1.2 million contribution of joint funding through the Canada – British Columbia Bilateral Agreement under the National Housing Strategy.
• The Province, through HousingHub, provided financing of $1.7 million to VRS Communities for the purchase.
• Beedie Living provided the land value to the VRS at no cost.
• The City of Coquitlam provided $456,000 in grant funding.
• VRS Communities contributed $324,000 in equity.

Quotes:

“Every Canadian deserves a safe and affordable place to call home. These 12 new rental homes will provide stability and a higher quality of life for residents to meet their housing needs. By investing in affordable housing, we are helping to create a more inclusive society where every Canadian has a chance to succeed. This is one of the many ways the National Housing Strategy continues to ensure no one is left behind.”

“Thanks to this partnership, residents of Coquitlam have access to safe and affordable homes. This project is improving the economic and social well-being of those who call this new building home. Through our partnerships, we are working to deliver more housing for communities across British Columbia. The federal government is committed to ensuring that all Canadians can find a home that meets their needs and budget.”

“With the opening of these 12 new accessible homes, more people in Coquitlam have access to comfortable homes, without barriers. Everyone deserves a good, affordable home that meets their needs, and our government will continue to work with our partners to deliver more housing like this for people throughout the province.”

“These 12 new homes are a significant step toward addressing the need for accessible housing in Coquitlam and easing the housing burden on area seniors. I want to thank all of our project partners who worked so hard for so long to make this purchase possible and I look forward to the positive impact this will have.”

“Coquitlam has set the stage by using our zoning tools to provide density incentives to create affordable and accessible housing, as well as grant funding. I’m happy to see the alignment from senior levels of government to augment Coquitlam’s investment. These 12 new rental homes are a testament to what can be achieved through strong partnerships and shared commitment to housing affordability and inclusivity.”

“Through extensive relationships with the City of Coquitlam, BC Housing and VRS Communities, Beedie Living is committed to providing high-quality market and non-market housing. It is because of our partnership with the City, Beedie is the first developer to achieve VRS housing opportunities in Coquitlam. These 12 units in The Heights on Austin have raised the bar and set a new standard for VRS in providing for their residents.”

“VRS Communities takes pride in the 1500 units of housing we offer in communities across British Columbia, allowing people with disabilities and seniors to live independently. We are grateful for the community partnerships with Beedie Living, BC Housing and the City of Coquitlam that led to the 12 units of housing VRS owns and operates in The Heights on Austin. These new homes mark VRS’ first opportunity in Coquitlam to provide much-needed accessible housing for people with disabilities and their families.”

Quick facts:

• Canada's National Housing Strategy (NHS) is a 10-year, $82-plus billion plan that will give more Canadians a place to call home.
• NHS is built on strong partnerships between the federal, provincial, and territorial governments, and continuous engagement with others, including municipalities, Indigenous governments and organizations, and the social and private housing sectors. This includes consultations with Canadians from all walks of life, and people with lived experience of housing need.
• All NHS investments delivered by the federal, provincial, and territorial governments will respect the key principles of NHS that support partnerships, people, and communities.
• This project is part of a $19-billion housing investment by the B.C. government. Since 2017, the Province has delivered more than 74,000 new homes that have been completed or are underway, including more including nearly 230 homes in Coquitlam.

Additional information:

As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. For more information, please visit: https://www.cmhc-schl.gc.ca/

CMHC’s aim is that by 2030, everyone in Canada has a home they can afford and that meets their needs. For more information,follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.

To find out more about the National Housing Strategy, please visit www.placetocallhome.ca.

HousingHub is a BC Housing program that works with communities and non-profit and private-sector developers to increase affordable rental housing and home-ownership options for middle-income British Columbians. It also provides developers with housing expertise and collaboration on projects and helps create housing through new construction or redevelopment.

In April 2021, the Province provided an additional $2 billion in development financing through HousingHub to finance the construction of thousands of new homes for middle- income families.

To learn about the steps the Province is taking to tackle the housing crisis and deliver affordable homes for British Columbians, visit: https://workingforyou.gov.bc.ca/.

A map showing the location of all announced provincially-funded housing projects in BC is available online: https://www.bchousing.org/homes-for-BC.

For information on this release:

Mahreen Dasoo
Office of the Minister of Housing and Diversity and Inclusion
mahreen.dasoo@infc.gc.ca

Canada Mortgage and Housing Corporation
Media Relations
media@cmhc-schl.gc.ca

Ministry of Housing
Media Relations
236-478-0251

BC Housing
Media Relations
media@bchousing.org