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More than 100 new affordable homes open to residents at S.U.C.C.E.S.S. Riverwalk in Vancouver’s River District

Posted date: November 26, 2021

S.U.C.C.E.S.S. Riverwalk News Release

Nov. 26, 2021
For Immediate Release

Vancouver, B.C. – Vancouver seniors, individuals and families now have access to more than 100 new affordable rental homes with the opening of S.U.C.C.E.S.S. Riverwalk, a housing project developed in partnership with the Province, through BC Housing, the City of Vancouver and S.U.C.C.E.S.S., one of the province’s largest social service agencies.

The project, at 3185 Riverwalk Ave. in the River District in southeast Vancouver, provides 109 affordable rental homes for people with low and moderate incomes. The building has seven studio units, 30 one-bedroom units, 48 two-bedroom units and 24 three-bedroom units, as well as a rooftop patio, gated parking with electric vehicle charging stations, in-suite laundry and a shared amenity room.

“Riverwalk reflects the commitment our government has made to work with non-profits and municipalities to provide affordable homes for people with a range of incomes in communities across B.C.,” said George Chow, MLA for Vancouver-Fraserview. “We are working hard to make sure more individuals, families and seniors have access to homes they can afford, so they can stay in their communities.”

S.U.C.C.E.S.S. Riverwalk was funded with $10.8 million in capital grants from the Province. The City of Vancouver contributed land worth $11 million under a 60-year lease with S.U.C.C.E.S.S. at a nominal rate and provided $1.3 million of in-kind grants. The Government of Canada also provided $50,000 in Seed funding; an initiative delivered through Canada Mortgage and Housing Corporation designed to provide interest-free loans and/or non-repayable contributions to develop and preserve affordable housing.

“Partnerships like the one between the City of Vancouver, Government of B.C., and S.U.C.C.E.S.S. mean 109 more individuals and families will have an affordable place to call home,” said City of Vancouver Mayor Kennedy Stewart. “These homes are part of the nearly 10,000 below market homes that are approved, underway, or built that will help make a Vancouver that works for all of us.”

The project is operated by S.U.C.C.E.S.S., which offers diverse programs and services to promote the belonging, wellness and independence of people at all stages of their Canadian journey.

“As an organization that has been working on affordable housing since 2008, we’ve watched rising rental rates put great financial strain on seniors, low-income families and newcomers,” said Queenie Choo, CEO of S.U.C.C.E.S.S. “We know these 109 housing units will make an incredible difference to people who need affordable homes to continue to live and work in Vancouver. We’re grateful for the support from government to make this project a reality.”

In 2011, S.U.C.C.E.S.S. and the City of Vancouver signed a Memorandum of Understanding to increase the number of affordable housing units across Vancouver. In addition to the River District project, S.U.C.C.E.S.S. is engaged in three projects set to complete between 2022 and 2024 that will add more than 450 affordable housing units.

This project is part of the more than 30,000 new homes that are complete or underway throughout B.C. since the Province launched its 10-year, $7-billion housing plan in 2018.

Quotes:

The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion –

“Every Canadian deserves a safe and affordable place to call home. Our government is proud to support projects like these, which provide new affordable homes for Vancouverites. This is one of the ways our National Housing Strategy continues to ensure no one is left behind.”

The Honourable Harjit Sajjan, Member of Parliament for Vancouver South and Minister of International Development 

“We know that everyone in British Columbia, and across Canada, deserves adequate and affordable housing. Our government is helping Vancouver increase its supply of new affordable homes for those that need it most. When this project officially opens its doors, it will offer new homes for well-deserving seniors, families, and individuals of Vancouver South.”

Quick Facts

  • S.U.C.C.E.S.S. Riverwalk is a five-storey affordable housing complex.
  • Up to 50% of units will rent to households with incomes below the Housing Income Limits (HIL), which are set by the Canada Mortgage and Housing Corporation and represent the maximum gross household income for eligibility in many affordable housing programs. The remaining units will rent at 10% below market at Low-End of Market (LEM) affordable housing rates.
  • The 109 units include seven studio units, 30 one-bedroom units, 48 two-bedroom units and 24 three-bedroom units to suit individuals, seniors and families.
  • Features include a rooftop patio, amenity room, gated parking with electric vehicle charging stations and in-suite laundry. Hot water is included in rents, with heat charged back to units based on square footage.
  • S.U.C.C.E.S.S. Riverwalk received its occupancy permit in October. Maximum occupancy is 410 people and, to date, about 20 residents have moved in.
  • Residents must be permanent residents or Canadian citizens.

 

About S.U.C.C.E.S.S. Housing
S.U.C.C.E.S.S. has been operating and managing affordable housing projects across Metro Vancouver since 2008. With the opening of S.U.C.C.E.S.S. Riverwalk’s 109 new units, we now operate and manage more than 770 affordable housing units in Burnaby, Richmond and Vancouver in collaboration with BC Housing and Metro Vancouver municipalities. The residents we serve are from diverse cultural backgrounds and include immigrants, refugees, seniors, people with disabilities, people who were homeless or at risk of homelessness, families and people living on low incomes. Learn more at: successbc.ca/affordable-housing.

About S.U.C.C.E.S.S.
Founded in 1973, S.U.C.C.E.S.S. is one of the largest social service agencies in Canada. Our multicultural, non-profit charitable organization offers a wide range of programs and services that promote the belonging, wellness, and independence of people at all stages of their Canadian journey. Programs and services are offered in the areas of newcomer settlement, English language training, employment and entrepreneurship, family, youth and seniors programming, health education, community development, seniors care and affordable housing. Learn more at: successbc.ca.

 

For more information
Elaine O’Connor
Director, Strategic Communications and Partnerships
S.U.C.C.E.S.S.
236-880-1392
[email protected]

BC Housing
Media Relations
[email protected]

Ministry of Attorney General and Responsible for Housing
Media Relations
778-678-1572

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