Following the successful re: Think Housing contest, the City of Vancouver is continuing its commitment to address affordable housing issues in Vancouver. According to an article in The Vancouver Sun, the city has announced that it “is seeking proposals for the development of affordable housing on six city-owned sites”
For the proposals, developers and not for profit housing societies are being asked to work together to create at least 500 new below-market rental units.
In the article, Vision Vancouver Councilor Kerry Jang said that,”What’s exciting about [the proposal] is [that] the rents must be under market value. That’s the only way we can ensure affordability.”
According to the article, “The city will release the land to developers for a nominal fee.” Then, the developers will be responsible for building the units as well as ensuring their upkeep. It will be the responsibility of the not for profit organizations to find renters.
The deadline for proposals is September 18th, and a shortlist will be announced in October. It is expected that constructions will start in early 2013 and be complete by 2015.