New co-op part of community land trust partnership with City of Vancouver - May 28, 2016

New co-op part of affordable housing launch in Vancouver

CHF BC and the Vancouver Community Land Trust Foundation joined with officials from the City of Vancouver and the governments of British Columbia and Canada earlier this week to celebrate the construction of 358 affordable homes on four sites owned by the City. The development will include the new 278-unit Fraserview Housing Co-op. Construction is now underway on all four sites. Completion is expected by the spring of 2018.
 
Speakers at the event included CHF BC's executive director, Thom Armstrong, Mayor Gregor Robertson, Chief Housing Officer Mukhtar Latif, local MP and Minister of National Defence, Hon. Harjit Sajjan, and BC's Minister responsible for housing, Hon. Rich Coleman. The ceremony began with a blessing delivered by elders of the Musqueam First Nation. 
 
In his remarks, Armstrong looked back on more than three years of effort by CHF BC and the community land trust to lead a partnership of co-op and non-profit organizations to get the project off the ground. 
 
“Put simply, the story of this development is a story of partnerships. The result is unique because it combines the strengths of multiple sites, investors and partners in a portfolio that maximizes economies of scale and long-term affordability,” said Armstrong.

Other speakers praised the innovative approach taken by the land trust and the opportunities created by a community land trust model to develop more affordable housing in the future.

Get more details in our media release.

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