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:
- 7th and Fir: 62 apartments (capital cost of $13.4 million)
- 1233-1251 Howe: 110 apartment (capital cost of $22.3 million)
- 215 W. 2nd: 147 apartments (capital cost of $34.2 million)
- 1134 Burrard: 141 apartments (capital cost of $30.4 million)
- 590 Alexander St.: 139 apartments (capital cost of $31.2 million)
- 675 E. Broadway: 127 apartments (capital cost of $28.3 million)
- 606 Powell: 147 apartments (capital cost of $34.6 million)
- 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!