New affordable rental homes are finally under construction on Hastings Street in Burnaby.
The development on the empty lot at 3838 Hastings St. will include 161 apartments, a mix of studios, one-, two-, and three-bedrooms, and a 74-space child-care centre operated by the YMCA of Greater Vancouver, according to a Ministry of Housing press release.
The building will have commercial space on the ground floor, 139 parking spots and 224 bike spaces.
Construction is expected to finish in 2026.
The project has been a long time coming.
Governments have been discussing the project since at least 2011.
The development was initially approved in 2017, and the rezoning was submitted in 2019 and finally approved last year.
In 2020, the provincial government said it expected the facility to be complete in 2023.
And most recently, Mayor Mike Hurley said the project was expected to start construction in May.
Now shovels are officially in the ground, the Ministry of Housing confirmed to the Burnaby NOW.
About 70 per cent of the development’s units will be rented at rates “affordable to households with very low and low incomes,” according to a city report earlier this year.
3838 Hasting St.'s unit mix (formerly 3802 Hastings St.)
- 26 studios (between 346 and 361 sq. ft.)
- 85 one-bedrooms (75 adaptable; all between 564 and 570 sq. ft.)
- 30 two-bedrooms (nine adaptable; all at 716 sq. ft.)
- 20 three-bedrooms (between 949 and 953 sq. ft.)
The affordability breakdown is:
- 20% (32 units) rented at deep subsidy
- 50% (81 units) rent geared to income
- 30% (48 units) affordable market
The development has received funding from various governments.
The City of Burnaby provided the land, valued at $28.3 million, and granted $3.1 million to non-profit housing developer and operator SUCCESS Affordable Housing Society.
One-fifth of the land comes from the federal government.
The provincial government provided about $28.6 million to build the homes and has also granted $6.8 million to SUCCESS to operate and build new child-care spaces.
Provincial and local politicians celebrated the development breaking ground.
Janet Routledge, MLA for Burnaby North, said the project is a “wonderful example” of governments and communities working together.
“Our government knows there are many families in need of quality affordable housing close to child care and the services they rely on,” Routledge said in the press release.
“Building projects like this is one of the ways we’re helping make life easier for families and people who call Burnaby home.”
Hurley said the project is a significant step for Burnaby as it addresses two of the most-urgent needs in Burnaby, affordable housing and more child-care spaces.
“By providing land for projects like this and working with our partners at the provincial level, we’re taking a bold approach to addressing the affordability crisis in our community,” Hurley said.
Funding breakdown:
- CMHC (seed funding): $50,000
- BC Housing (Community Housing Fund): $17.6 million
- BC Housing (cost pressures grant): $11 million
- City of Burnaby land (assessed value): $28.3 million
- One-fifth of the land contributed (valued at $3.23 million) comes from the federal government's Federal Lands Initiative
- City of Burnaby (grant): $3.1 million
- City of Burnaby (waived fees): $112,000
- Metro Vancouver (waived fees): $425,000
