July 26, 2017
The last time I talked to Luke Harrison, CEO of the Vancouver Affordable Housing Agency, he told me about a new affordable rental complex being built in Vancouver’s East Fraserlands.
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The new building, which will charge rents set at less than 30 per cent of tenants’ incomes, owes its existence to an innovative partnership of a not-for-profit agency, a co-op and government.
It sounded great, but the building will only have about 110 rental units. How do we ramp this up? Where will the capital funding come from?
And is there a role for private equity and even landowners in developing innovative affordable rental housing?