Ninety units of below-market rental and affordable housing could be coming soon to the Lynn Creek neighbourhood.
The proposal from the Sanford Housing Society and the Hollyburn Family Services Society at 267 and 271 Orwell St., next to Phibbs Exchange, is now scheduled to come before council.
The previous District of North Vancouver council agreed to lease seven single-family lots (five of which are undeveloped) in 2018. Their combined assessed value is now $8.8 million. In November 2018, the province announced $9 million in capital funding. BC Housing has committed to providing an ongoing subsidy to keep the rents low and make the project viable.
Under the funding formula, 20 per cent of the units would be offered at social assistance rates. Half of the units would be for low-to-moderate income households (just over $51,000 per year for singles and $73,000 for families) with rents taking up no more than 30 per cent of their income. And the remaining units would be closer to market rates, although there is a cap on how much the occupants can earn to be eligible to live in them.
Previously, district council has rejected affordable housing projects on the Delbrook Lands and on Burr Place. But Allyson Muir, executive director of Sanford Housing, said she is optimistic the proposal will tick a lot of council’s boxes.
Because of its proximity to Phibbs Exchange, the building will contain only 68 underground parking stalls and 100 bicycle lock-up spaces. It will be built to B.C. Energy Step Code Level 3 standards. And the proposal was very well received by the advisory design panel on Thursday night, Muir added.
“I think that we've got a really good project we've really tried to bring a lot to the table,” she said.
Hollyburn Family Services will likely be in charge of who gets the units at social assistance rates while people who live and/or work on the North Shore will be given priority for the other apartments.
“One of the goals is definitely to keep people close to home and/or to reduce their commutes,” Muir said. “We've definitely heard that affordability is really needed on the North Shore - that people want to be able to live near where they work and don't want to have to move away when they have their own families. So we think that we can really help fill a niche that's needed.”
Mayor Mike Little said he doesn’t anticipate a difficult process ahead for the Sanford-Hollyburn proposal.
“I think it's a great project. It's immediately next to a transit hub. It's in an area that is already in a state of redevelopment, so I think a lot of people are expecting these kinds of projects in that area.” he said. “I’m optimistic that what’s being presented is a viable project, but it will have to go through its public process.”
Muir said the project should be ready for its first vote before council this fall.
