Construction is underway at East 6th and Main Street on a 9-storey project with 145 affordable rental apartments, most of which will be rented at 30 per cent below Vancouver’s median household income.
The federal government committed $48.5 million to the project through CMHC, and the City of Vancouver provided land for a 60-year lease of the site, valued at $16.85 million through VAHA, the Vancouver Affordable Housing Agency. Catalyst Community Developments Society is behind the development.
The development will have a restaurant, retail space, and rental homes ranging from studios to three-bedroom apartments.
The project is designed to achieve energy-efficiency savings of 23 per cent and a reduction in greenhouse gas emissions of 27 per cent, relative to National Energy Code for Buildings (NECB) 2015.
The total project cost is $71 million.
