Kiyoko Fujimura

Buzzbuzzhome Corp.
May 25, 2010

Every urban center struggles with the issue of homelessness. Today Vancouver took a drastic step toward curbing the problem. The premier of BC, Gordon Campbell, announced a $225 million project to provide 1,006 new units earlier today.

So where is this massive amount of funding coming from? The province is coughing up $205 million and the Streetohome Foundation is providing the other $20 million.

These projects are in addition to the six previously announced projects:

Combined, the 14 sites will provide 1,575 new units, create more than 2,100 direct jobs and represent a capital investment of $333.4 million. The Vancouver Sun

Now THAT’S a lot of money. Here are the eight new projects announced:
  1. 7th and Fir: 62 apartments (capital cost of $13.4 million)
  2. 1233-1251 Howe: 110 apartment (capital cost of $22.3 million)
  3. 215 W. 2nd: 147 apartments (capital cost of $34.2 million)
  4. 1134 Burrard: 141 apartments (capital cost of $30.4 million)
  5. 590 Alexander St.: 139 apartments (capital cost of $31.2 million)
  6. 675 E. Broadway: 127 apartments (capital cost of $28.3 million)
  7. 606 Powell: 147 apartments (capital cost of $34.6 million)
  8. 1050 Expo Blvd.: 133 apartments (capital cost of $30.6 million)
WOW! Crazy amount of development to add to an already booming construction industry. But a step in the right direction most definitely. Kudos, West Coast! Toronto needs to do something like this too!

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