CREATING POSITIVE SPACES WHILE MAINTAINING TOP QUALITY AND CORE PRINCIPLES
Expected Completion Spring 2017
Construction is underway on a 48-unit development at 1700 Kingsway in Vancouver. The project is one of four sites being developed on City of Vancouver-owned land, in a partnership between the Vancouver Community Land Trust Foundation, co-op and non-profit housing providers, Vancity Credit Union, BC Housing and the City of Vancouver.
Sanford Housing Society is an equity partner in this innovative Land Trust project and will be responsible for ongoing operation of the 48 one-bedroom units designated for low-income singles. In a partnership with the Kettle Friendship Society, half of the units in the building will be provided for people living with mental illness.
For more information, follow the link to a full article Vancouver Land Trust partnership to create 358 units of affordable housing on City-owned sites
FAQs for 1720 Kingsway
Q. When will the apartments at 1720 Kingsway open?
A. We expect the building to be ready for occupancy in the spring of 2017.
Q. If I am on the BC Housing waitlist, does this mean I’m on the waitlist for 1720 Kingsway?
A. No. While BC Housing has provided financing for construction of the building, 1720 Kingsway is not a BC Housing building. The rents at 1720 Kingsway are not subsidized by BC Housing, and the applications for tenancy will be completely separate.
Q. Are you taking applications for 1720 Kingsway?
A. Not yet. We will begin taking applications in the new year, as the occupancy date approaches.
Q. What are the rents for 1720 Kingsway?
A. The exact rents have not yet been determined. 1720 Kingsway is a “below market” rental development. This means that rents will be set according to a formula that takes into consideration rents for comparable market rental apartments in the area. The rents will not vary based on tenant income, but tenants will need to have incomes below a specific threshold to be eligible.
Q. Who is eligible for this building?
A. There are several eligibility criteria:
i) Resident of Vancouver and/or
ii) Work in Vancouver (N.B. Priority will be given to Vancouver residents)
iii) Income at or below the threshold set for this below market development
iv) Single or couple sharing bedroom (No children, no roommates)
Q. Is this a supported housing building?
A. No. This building does not have any on site supports for tenants. 24 of the units will be reserved for clients of the Kettle Friendship Society, and the Kettle will support these tenants as needed. Overall, the building is simply an apartment building for people with low to moderate incomes.
Q. How do I apply to be a tenant at 1720 Kingsway?
A. Keep an eye on this website for updates. We will be providing information about rents, occupancy and the application process in the new year. To be considered for tenancy, all applicants will be required to provide proof of eligibility, including income/assets, residency, work status.
Q. What is the Land Trust and how does 1720 Kingsway fit in?
A. The Vancouver Community Land Trust Foundation is a non profit society established in 2014 for the purpose of acquiring, creating and preserving affordable housing. The 1720 Kingsway project is one of three properties being developed as a group (portfolio) of projects that will operate together to provide 358 units of housing. The Kingsway project will be the first to open and will provide 48 units of below market housing for low to moderate income tenants. The Kingsway building will be operated by the Sanford Housing Society. 310 more units will follow on two sites located on Southeast Marine Drive and East Kent Avenue. These units will be operated by the Tikva Housing Society (32 units) and the Fraserview Housing Co-op (278 units). Visit www.vancouverlandtrust.ca for more information.