Vancouver Council has approved a third project under its Moderate Income Rental Pilot Program (MIRHPP), which will provide much needed below-market housing for individuals, couples, and families.
The project, located at 1805 Larch Street, will deliver 63 new rental homes on the west side of Vancouver, with 13 secured at below market rents, and over 40% of these homes will be suitable for families.
“I’m so proud that Council has voted to make room for middle-income households in Kitsilano by approving 63 new secured rental homes – 13 of them starting at $950/month,” said Mayor Kennedy Stewart. “Kits is getting more and more expensive, and this project will help keep the community diverse and vibrant!”
Conditions
In response to public feedback, Council added conditions to the approval that will:
Ensure below-market homes will be distributed throughout the building
Explore refinements to the building design to help make it more compatible with the existing neighbourhood
Explore opportunities to a provide public amenity space on site for children’s play and community gathering.
63 rental homes
The five-storey building on the corner of Larch and West 2nd is within walking distance to amenities including parks, schools, shops, and community centers and will comprise:
22 studio homes
15 one-bedroom homes
20 two-bedroom homes
6 three-bedroom homes
“Projects like this are so important for ensuring that more middle income households, such as our nurses, firefighters, bus drivers, and teachers, can chose live in the neighbourhood that best meets their individual and family needs,” said Gil Kelley, General Manager of Planning, Urban Design, and Sustainability.
“Through the Public Hearing we heard clearly from neighbours and residents that refinements to the building design and public spaces could be explored, and our staff will be pursuing that as the development process continues.”
Moderate income rental housing is privately-owned, purpose-built rental housing that is permanently secured and made available to households earning $30,000 to $80,000 per year. Rents will be set at maximum average starting rents of $950 per month for studios, $1,200 for one-bedroom apartments, $1,600 for two bedrooms and $2,000 for three bedrooms.