VICTORIA — Metro Vancouver and the Government of British Columbia have partnered to deliver roughly 2,000 new affordable homes over the next 10 years.
The two entities have signed an MOU targeting high-priority sites as established by Metro Vancouver, according to a news release.
The first phase of the project will develop housing at 788 West 13th Ave., Vancouver, 7730-6th St., Burnaby, 7388 Southwynde Ave., Burnaby, 19085-119B Ave., Pitt Meadows and 1144 Inlet St., Coquitlam.
Through the first phase, some 660 new homes will be delivered in five years, states the release. The province has invested $158 million over the next three years in the developments.
Metro Van has contributed land and cash equity valued at more than $217 million over 10 years while trying to acquire federal funding.
The province is also contributing $7.9 million to Salal Landing, a five-storey building for families, seniors and people living with disabilities in Port Coquitlam. The site will be owned and operated by Metro Vancouver with construction expected to start spring 2024.
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