Council approves project that invests $9.7m in affordable housing; protects and expands industrial job space

October 30, 2012 | Uncategorized

City Council approved today a new 352 unit development at 955 East Hastings, which includes 70 units of social housing and a unique mix of commercial, industrial and retail uses to support jobs in the Strathcona area.

“This creative project delivers on our affordable housing targets while supporting Vancouver’s industrial and commercial economies,” said Mayor Gregor Robertson. “Mixing light industrial job activity and new housing is an innovative proposal that fits with the neighbourhood, and is a blueprint for how we want to mix job space with housing in Vancouver.

“It will provide local benefits for the community and strengthen our City’s economy.”

70 units, or 20% of the entire project, will be transferred to the City as social housing, with one-third rented at welfare rates. The value of this amenity to the City is $9.7 million. With these 70 units, the City is now just 231 units shy of its target of 1,500 non-market housing units for 2014, as part of the 2011-2021 Affordable Housing and Homelessness Strategy.

The Mayor also supported Council amendments to:

  • Improve the integration of common areas in the development, to ensure the project is a truly mixed-income community.
  • Have staff work to maximize the welfare rate component of housing units.

955 East Hastings is a 12-storey LEED Silver building that includes over 64,000 square feet of Industrial Flex Space for Production, Distribution, and Repair (PDR). This is a new type of land use adopted in recent years to protect and provide industrial job space in Vancouver. Examples of PDR use include clothing manufacturing, digital printing, and food and beverage distribution.

To read more about the project, visit http://former.vancouver.ca/ctyclerk/cclerk/20120918/documents/p5.pdf