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Affordable homes for seniors opens in Vancouver

Affordable homes for seniors opens in Vancouver

VANCOUVER – Eighty-two affordable rental homes for families, seniors and people living with disabilities are now available in Vancouver with the opening of The Aster in east Vancouver.

Located at 349 E. 6th Ave., The Aster is a partnership between BC Housing, the Brightside Community Homes Foundation and Wall Financial Corporation. The new 12-storey building has studio, one-, two- and three-bedroom homes that will be owned and operated by Brightside, a release said. The building features a range of shared amenities, such as an outdoor common area and rooftop urban agriculture space.

“Seniors living in these new apartments will benefit from affordable rents at the same rate they had in the same neighbourhood that they know and love. The Aster is an example of multiple partners coming together to introduce affordable housing where families, seniors and people living with disabilities can benefit from a wealth of nearby amenities and be part of a thriving community,” B.C. Minister of Housing Ravi Kahlon said in a statement. 

The Aster replaces Brightside’s 36-unit seniors housing building at 325 E. 6th Ave., which did not have accessibility features and will be sold to Wall Financial Corporation for redevelopment into market and social housing.

Forty-two of the project’s units will have rent geared to income, where rent is 30 per cent of the tenant’s income and 19 units are for those with very low incomes such as those receiving income or disability assistance or a basic seniors’ pension. Twenty-one units are set at low-end market rates, ranging from $1,700 to $3,100 per month, the release said.

B.C. provided $14.6 million and will provide approximately $575,000 in annual operating funding through BC Housing. Wall Financial Corporation provided the land and oversaw construction.

“We’re incredibly proud to be opening these new affordable homes in Mount Pleasant. The Aster represents the first of hundreds of new affordable rental homes Brightside will be opening over the coming years and provincial funding for The Aster has helped us maximize affordability,” Brightside Community Homes Foundation CEO Willaim Azeroff added.


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