The City of Vancouver is investing $50 million to build 400 affordable housing units at various locations in a bid to ease the city’s affordability crisis. Mayor Gregor Robertson said the city has secured development partners but will require additional funding from provincial and federal governments.
The units, ranging from single-room units to 3-bedroom homes will be built on 4 city-owned lots and offered to the rental market at affordable rates. With the vacancy rate near zero, the homes should provide a start for low-income families in the city.
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