Burnaby residents have started to move into 134 units of non-market housing, created through a partnership between the City of Burnaby, Catalyst Community Developments Society and the federal government, through the Canada Mortgage Housing Corporation (CMHC).
“This is another example of how Burnaby is leading the way when it comes to addressing the housing crisis in our region,” said Mayor Mike Hurley. “By working together with our partners in government and the non-profit community, we’re building housing that’s more affordable for people, including those displaced by development.”
The 134 units in the 6-storey mixed-use building at 6889 Royal Oak Avenue will be rented at rates affordable to households with low and moderate incomes. The City provided land and a grant from the Community Benefit Bonus Affordable Housing Reserve to increase the feasibility of the project. The project also received grant funding through CMHC, and low-interest financing through the Affordable Housing Fund (AHF), formerly the National Housing Co-Investment Fund (NHCF).
Some of the units will also be used to support Burnaby’s Tenant Assistance Policy. Burnaby tenants displaced by redevelopment were able to apply to live here while their new building is under construction. Once complete, the tenants will have the right to return to the redeveloped building at the same rent (plus any Residential Tenancy Act rent increases) in a unit with the same number of bedrooms.
6889 Royal Oak Avenue is now the seventh housing project to reach occupancy through Burnaby’s City Lands for Non-Market Housing program. A total of 442 non-market units have been created through this program to date, with four more housing developments currently under construction and six others under review.
Learn more: City Lands for Non-Marketing Housing
Quotes
Honourable Terry Beech, Minister of Citizens’ Services and Member of Parliament for Burnaby North – Seymour
"I am thrilled to celebrate the opening of 134 new homes for residents of Burnaby. This milestone reflects the commitment and collaboration of different levels of government and non-profits towards creating a community where everyone has a place to call home. I look forward to seeing its positive impact for years to come.”
Scott Dutchak, President, Catalyst Community Developments Society
"At Catalyst, we are dedicated to creating high-quality homes that strengthen community and provide stability and security for residents. This partnership with the City of Burnaby and CMHC highlights the impact of collaboration in delivering much-needed housing. We’re excited to welcome residents to 6889 Royal Oak Avenue and see this new community thrive."