Vancouver first is hailed as future of affordable homes

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A new 40-unit, 3-storey building of affordable rental units has opened in Vancouver, the first to be funded by the Affordable Rental Innovation Fund, and offering a flexible approach to rental developments.

The single-occupancy suites include self-contained bathrooms and kitchens and the units are moveable, meaning the possibility to relocate them to another vacant site when the current location is needed for permanent development.

“Vancouver now has a new and unconventional solution to its affordable rental challenges,” said Simon Lahoud, Senior Manager, Innovation Fund, CMHC. “This project is a glimpse of what Canada’s affordable rental housing future can look like with the hope of inspiring more innovative and affordable housing solutions in cities across the country.”

The project at 220 Terminal Avenue in the city’s Strathcona neighbourhood was built with help from a $1.5 million contribution by the Canada Mortgage and Housing Corporation along with the Vancouver Affordable Housing Agency and the City of Vancouver.

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