Another 16 units of affordable housing could soon come online in Richmond.
But none of the units – even the one three-bedroom unit – will be even a thousand square feet in size.
The largest apartment, a three-bedroom unit, will be 980 square feet.
The affordable rental units will be clustered on the fourth and seventh floors of the 15-storey condo building on Westminster Highway, just east of No. 3 Road.
The owner, a numbered company whose director is Chi Qiu Zhang, has signed a memorandum-of-understanding with SUCCESS to manage the units.
Last year, city council passed a new policy requiring new developments in City Centre to have 15 per cent affordable housing units.
This building, however, is grandfathered into the previous policy and only 10 per cent of the floor area is dedicated for affordable rentals.
Rents will vary from $811 for a studio apartment to $1,480 for a 980-square-foot three-bedroom apartment.
There will only be one three-bedroom unit, but there will be 10 one-bedroom units, four two-bedroom units as well as one studio apartment.
The proposed housing agreement also stipulates maximum incomes for those who can rent the units.
The renter of the one studio apartment, which is 400 square feet in size, can’t have income higher than $34,650.
And the renter of the three-bedroom apartment can’t have a household income higher than $58,050.
The housing agreement also states there can’t be any age restrictions on renters.
The housing agreement will be dealt with at next week’s planning committee meeting.
