Richmond has received $9.1 million in federal funding to build a new affordable rental housing project in Steveston.
The project will provide 25 units - 10 two-bedroom units and 15 studios - to low-income women and women with children who face challenges in finding housing.
The funding will cover the construction costs of a three-story building on city-owned land at Steveston Highway and Railway Avenue.
If the rezoning application – to turn the land from single-family use to multi-family use – is approved by the city council in the fall, the project is set to be completed and open doors to tenants in late 2024.
“We had announced the initial plan to do this with the city just a few weeks ago. And very quickly, the Rapid Housing Initiative has been put into place, and we’re seeing a plan already in place to build,” said Parm Bains, MP for Steveston-Richmond East.
BC Housing has promised to cover the $7.2 million operational costs, and Turning Point Housing Society, a not-for-profit providing housing and counselling services, will manage the building and its tenants once it’s built.
The rent of the affordable units will not exceed 30 per cent of the tenant’s income, according to the city.
