Affordable Rental Housing Project

UPDATE: November 20, 2018:

Buckley Avenue Affordable Rental Housing Project

The District was successful in receiving $7.6 million in funding from BC Housing’s Community Housing Fund (CHF) program to fund the design and construction of the Buckley Avenue project. The project will provide housing to low-to-moderate income households through the development of a new 5 storey apartment building with 76 units including 12 studios, 48 one-bedroom units, and 16 two-bedroom units. (The townhouse units shown in previous plans have been eliminated.)

A Notice of Award from BC Housing was made on November 13, 2018. The District is now proceeding with the detailed project design, and is planning to have provisional project approval in March 2019, completion of all planning and design work, and receiving final approvals from BC Housing in the Fall of 2019, and starting construction by May 2020, so that the facility will be operational by September 2021.

Construction costs are estimated at approximately $20 million, including substantial contingencies to cover project risks.

Based on the forecasted monthly revenue of about $75,000, an operating subsidy (of about $690,000 annually) is required. The application to BC Housing includes the request for this operational funding.

The anticipated rents in the building are shown below, and are substantially lower than previously estimated.

More details on the BC Housing program eligibility definitions and requirements for the Buckley Avenue project can be found here.

The work to date by the District has been funded by $145,000 from BC Housing and $50,000 from CMHC to advance the project towards implementation and to prepare the grant proposal.

To manage and operate the completed facility, the District is planning to procure the services of an independent operator through a competitive process. The District will partner with the successful operating entity to operate and maintain the building. District staff will not operate the building.

The proposed apartment unit sizes are based on BC Housing’s Design Guidelines:

• 12 x Studio units: 351 square feet (sf) – 377 sf
• 48 x One‐bedroom units: 520 sf – 531 sf (four of which are accessible to those with disabilities)
• 16 x Two‐bedroom units: 719 sf – 726 sf

The proposed building design features include:

• Each apartment has its own deck/balcony as private outdoor space.
• An indoor area for bicycle parking and tenant recreational equipment storage.
• The riparian areas and the existing trees outside of the building and parking areas will be retained.
• A small public park with playground.
• The existing skateboard park located on the site will remain.
• A “Youth Hub” on the ground floor that will offer a comprehensive range of recreational, cultural, clinical and wellness service program supports for youth in the community.
• A small management / administrative office.
• A “Heat Room” to allow for heat treatment of tenant furniture.
• A universal public washroom located on the ground floor and is directly accessible from the building exterior for the users of the skate park.

Elevations

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