Weekly Real Estate News
A new housing development that will provide 146 affordable apartments is being constructed in the Hastings-Sunrise section of east Vancouver.
The Sunrise Village project will encompass two new buildings that will replace an aging 64-apartment building. Construction is underway and expected to complete in 2026.
Funding for this project includes $10.95 million from the federal government, through the Affordable Housing Fund; $15.9 million from the Province of British Columbia, through BC Housing; $23 million in land equity from Brightside Community Housing; $5.5 million in a Community Housing Incentive Program grant from the City of Vancouver and a Development Cost Levy exemption valued at over $3 million; $156,512 from Metro Vancouver; and $226,884 from Translink.
“Vancouver is a world-class city and that makes it especially challenging for seniors and families to find housing they can afford close to the amenities they need,” said Ravi Kahlon, minister of housing for the Province of British Columbia. “That’s why our government is taking action to deliver housing of all kinds, including more projects like Sunrise Village that create new multi-generational communities where people of all ages can thrive together.”
Photo: Artist’s rendering of the new project
