Seven local moms and their children will enjoy some much needed relief from Vancouver’s crushing housing crisis. These local families are benefiting from what the YWCA is describing as a unique partnership with a local developer.
In 2012, the YWCA completed the Como Lake Gardens residential development – a project that didn’t use all of the available density afforded to it by the municipal bylaw. Essentially, the development had ‘leftover space’ from the city’s perspective. Provisions in the zoning code do however allow for density sharing, which allowed Beedie to buy the unused density and build an affordable housing community to be purchased later by the YWCA at a substantially reduced value.
“We are grateful to partner with the YWCA metro Vancouver,’ said Ryan Beedie, president of Beedie Development.
— David Zura (@zuradavid) October 10, 2017
There are seven units in the community which will either offer three or four bedrooms. Residents will be able to rent at the low end of the market with rents being set at 70% of BC Housing’s limit.
Maureen Cleary is one of the women who has moved in with her daughter. She has worked in Coquitlam for over 20 years but says the city is expensive and old commute was leaving her very little time to care for her daughter.
“We lived in Langley before so the commute was quite a bit and hard on us at times,”
To buy the town-homes, the YWCA started a capital campaign, raising $1.5 million. BC Housing provided a $705,000 gift, part of which will held fund a community development worker to assist residents.
The women who have moved in with their children will be able to stay in these units while their children are in school and provided they do not become high income earners.