Work is underway on one of the largest affordable and market rental townhome developments in B.C. On Sept. 3, the Burnaby Housing Authority announced the milestone: 183 new purpose-built rental family units at 6203 Marine Drive in Burnaby’s South Slope neighbourhood.
“The city undertook a lot of community engagement and housing continued to come up as a need in Burnaby,” said John McEown, CEO of the BHA. He explained that the BHA—an independent municipal corporation—was established by the City of Burnaby to provide both market and below-market housing solutions. This can include developing housing directly or partnering with non-profits, private companies and various levels of government.
The development
In partnership with Vancouver-based Mosaic Homes, the BHA is constructing 183 townhomes on City of Burnaby land leased on a long-term basis. The 183 homes include 58 two-bedroom and 125 three-bedroom rental units, owned and operated by the BHA. “Some units will be tied to [the Canada Mortgage and Housing Corporation] median income,” said McEown, “and there will be some below-market units and market units as well.” While one of the development’s biggest goals is to address affordable housing, McEown said the exact split between market and below-market units is yet to be finalized and will be announced closer to completion of construction—which is currently set for Sept. 2028.
The development is funded by a combined $92 million, predominantly in the form of an $84.5-million repayable, low-interest loan through the federal Apartment Construction Loan Program. Other sources included $3.9 from the BHA itself, $833,000 in City of Burnaby development cost charge credits and development cost charge waivers and $511,525 in TransLink development cost charge credits from Metro Vancouver.
“We’re trying to be cost effective and schedule effective,” said McEown, “but we also want these units to be livable, ground-oriented, and have a good balance of indoor and outdoor space.” In addition to the outdoor amenity space, he also highlighted the development’s close proximity to the Rosemary Brown Recreation Centre and various parks and schools, making it an ideal location for young families.
The bigger picture
McEown was quick to point out the the speed at which the BHA has been able to get the project to construction, despite being a younger company. “This is a real testament of what we can achieve,” he said. “We don’t see a lot of purpose-built townhome rentals so we’re really excited to be able to deliver that.”
There seems to be a greater trend emerging in Burnaby’s affordable housing scene: public-sector investment and private-sector development. “I think what the housing authority can do as a city-owned entity leveraging city-owned land is how we effectively activate city-owned land to meet community needs,” said McEown. As of this morning (Sept. 18), another 480 purpose-built rental homes are also underway at the Edmonds Community Hub, courtesy of Gracorp and BC Builds. These types of partnerships have undoubtedly sped up the process of developing rental units; now the question is whether or not it will be enough to meaningfully address housing affordability for local families.
