City of Vancouver Sites

Community Housing Land Trust Foundation
Vancouver
New Construction; high-rise; apartment; townhome

Responding to a City of Vancouver RFEOI for the development of affordable housing for 4 City-owned properties, Terra Special Projects (the lead consultant and development manager for this project) brought the Land Trust and several non-profit housing associations together to propose a mixed market/non-market portfolio of projects.  This proposal was awarded the project; the City's enthusiasm for the Land Trust's proposal was due primarily to the profits of the market housing portion of the portfolio providing a substantial affordability benefit to the non-market units.

Terra led the Land Trust through the origination, planning, design, and securing of pre-development and long-term financing of the projects by BC Housing and other financial partners.  Additionally, Terra has worked extensively on the complicated legal structure of the project, multiple agreements with the City and the partnership structure between the Land Trust, its non-profit housing partners and the financial participants in the project.

Consisting of a combination of high-rise, low-rise and townhome designs, the 6 buildings in this portfolio are under construction and will add 358 units of much-needed rental housing to Vancouver.  The Sanford Housing Society building on Kingsway will be the first completed in the summer of 2017.

Check out Francis Bula's article about the project.