Vancouver Mayor Kennedy Stewart is touting city council’s approval of 212 new rental homes at East Hastings and Boundary as a major win for renters.
In a tweet Tuesday afternoon, Stewart wrote: “Council just passed 2 buildings at Hastings & Boundary that will provide 212 new rental homes, including 43 starting at $950/month with ZERO displacement!”
The only councillor who voted against the proposal was Jean Swanson, which was not surprising. The prominent anti-poverty activist regularly votes against all development proposals – unless they consist of social housing rented at welfare shelter rates.
Interestingly, the two towers will be separated by existing low-rise commercial buildings, which will be retained as the development is constructed on both corners.
The tower at Boundary and East Hastings will contain 118 rental residential units with 20 per cent of the residential floor area assigned to moderate income households.
The Kootenay and East Hastings tower will contain 94 rental residential units with 20 per cent of the residential floor area assigned to moderate income households. Both towers will include retail use at grade.
The Moderate Income Rental Housing Pilot Program applies to new buildings where 100 per cent of the residential floor area is secured rental housing and at least 20 per cent of the residential floor is made available to moderate income households earning between $30,000 and $80,000 per year. Units should be provided in a variety of unit types (studios, one, two and three bedrooms).