BURNABY, B.C. – The federal government has announced more than $40.7 million in contributions and low-cost loans will go towards building and repairing 3,400 affordable homes in Burnaby and New Westminster, B.C.
The funding is through the Affordable Housing Fund (AHF) and the Canada Mortgage and Housing Corporation (CMHC) will implement the Frequent Builder program, which expedites applications for the AHF and the Apartment Construction Loan Program.
The announcement took place at YWCA Marion’s Place at 4281 Grange St. which received $3.2 million to build 32 homes and will be operated by YWCA Metro Vancouver. The building will feature a mix of two and three-bedroom apartments for women and their families living on low and moderate incomes, a release said.
Other projects funded include the Province of B.C.’s BC Housing Repair Portfolio in Burnaby with funding of $16.1 million for 1,617 units, Affordable Housing Societies repairs in New Westminister applying $11.1 million to 1,114 units, the L’Arche Greater Vancouver Sussex Redevelopment in Burnaby receiving $4.5 million in funding for 61 units, $5.6 million for 560 units in Burnaby for Metro Vancouver Housing’s portfolio of building retrofits and repairs and $103,451 for 16 units for Heal our Homes in New Westminster.
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