The North Burnaby rental housing project is expected to be completed in 2026.
New, affordable rental apartments are finally being built on Hastings Street in Burnaby.
According to a news release from the Ministry of Housing, the development on the vacant lot at 3838 Hastings Street will include 161 apartments, a mix of studios, one-, two- and three-bedroom units, and a 74-place daycare center operated by the YMCA of Greater Vancouver.
The building will have commercial space on the ground floor, 139 parking spaces and 224 bicycle parking spaces.
Construction work is expected to be completed in 2026.
The project has been a long time coming.
Governments have been discussing the project since at least 2011.
The development was initially approved in 2017, the rezoning was submitted in 2019 and finally approved last year.
In 2020, the provincial government stated that it expected the plant to be completed in 2023.
And recently, Mayor Mike Hurley said construction on the project is expected to begin in May.
Now the spades are officially in the ground, the Housing Ministry confirmed to the Burnaby NOW.
About 70 percent of the housing units in the complex are rented at rates that are “affordable for very low- and low-income households,” according to a city report released earlier this year.
Unit mix of 3838 Hasting St. (formerly 3802 Hastings St.)
- 26 studios (between 32 and 34 m²)
- 85 one-bedroom apartments (75 customizable, all between 52 and 53 m²)
- 30 two-bedroom apartments (nine adaptable, all 66 m²)
- 20 three-room apartments (between 85 and 89 m²)
The affordability breakdown is:
- 20% (32 units) at heavily subsidized rental prices
- 50% (81 units) income-based rent
- 30% (48 units) affordable market
The development was supported by various governments.
The City of Burnaby provided the land, valued at $28.3 million, and gave $3.1 million to the nonprofit housing developer and operator SUCCESS Affordable Housing Society.
One fifth of the land comes from the federal government.
The provincial government provided approximately $28.6 million to build the homes and also granted SUCCESS $6.8 million to operate and build new child care spaces.
Provincial and local politicians celebrated the groundbreaking ceremony for the construction project.
Janet Routledge, MP for Burnaby North, said the project was a “wonderful example” of governments and communities working together.
“Our government knows that many families need high-quality, affordable housing close to child care and the services they need,” Routledge said in the release.
“Building projects like this is one of the ways we make life easier for the families and people who call Burnaby home.”
Hurley said the project is a significant step for Burnaby because it addresses two of Burnaby’s most pressing needs: affordable housing and more childcare spaces.
“By providing land for projects like this and working with our provincial partners, we are taking a bold approach to addressing the affordability crisis in our community,” Hurley said.
Breakdown of funding:
- CMHC (Startup Capital): $50,000
- BC Housing (Community Housing Fund): $17.6 million
- BC Housing (cost pressure grant): $11 million
- City of Burnaby properties (estimated value): $28.3 million
- One-fifth of the donated land (valued at $3.23 million) comes from the federal government’s Federal Lands Initiative.
- City of Burnaby (grant): $3.1 million
- City of Burnaby (fees waived): $112,000
- Metro Vancouver (excluding fees): $425,000
