As housing prices in Metro Vancouver continue to rise, one UBC study is introducing a different model that could see more affordable housing units in a little over two years.
The new model has nonprofit groups building affordable housing on land donated by the City of Vancouver…and it’s already seeing 350 affordable rental units being built, the units will be available for rent at below 25% market value by 2018.
UBC master’s student, and author of the study, Kristin Patten says this is the first time Vancouver has offered to donate land to community groups, and the project is calling on the federal government to provide land or money as well.
“You know there’s a certain level of affordability that can be achieved…there’s only so much that you can do without the senior governments coming to the table.”
Patten hopes the early success of the model will allow for more land to be donated, and more affordable housing to be built.
“It’s kind of part way through the project and it’s looking really promising, as a potential model which means that it could be replicated.”
The study is in partnership with organizations like BC Housing, Sanford Housing, and Vancity.