- What More than 670 below-market rental units will be built across five sites in Metro Vancouver
- Why This is the latest phase of a partnership between Metro Vancouver and the BC government
- What’s next The Province will contribute $226m to fund the initiative
More than 670 below-market rental homes will be constructed throughout greater Vancouver under an agreement between the Province and Metro Vancouver, the Province announced May 23.
The units, at four sites, will be built through a partnership between the Government of British Columbia and Metro Vancouver, a regional body comprising nearly two dozen local governments throughout the region.
The provincial government is contributing $226m to the initiative over two years. Metro Vancouver is pitching in land and cash equity worth about $367m over 10 years.
The projects will be built on property owned by Metro Vancouver in Coquitlam, North Vancouver and Vancouver.
They are the latest phase of a planned 2,000 rental units to be built over 10 years in Metro Vancouver through the partnership between the province and the regional authority.
Funding for phase three of the partnership has been committed, and details will be released once confirmed.