A misunderstanding has riled up many Vancouverites about who qualifies for “affordable” housing at the former Olympic Village site, according to Vancouver city councillor Geoff Meggs.
Teachers, firefighters, police officers and nurses who make less than $65,000 per year will get first dibs on 126 market-rental suites at the 1,108-unit development now known as Millennium Water, said Meggs.
“People didn’t catch this because they were infuriated and thought that teachers and firefighters would be subsidized to live there,” Meggs told Business in Vancouver May 27.
City council preserved 252 units of so-called affordable housing in the development. Half of those will be rented at market rates for the surrounding area: $1,600 to $2,400, depending on size. The other 126 units will be what Meggs considers true social housing because dwellers will only have to pay 30% of what they earn towards rent.
The city has put out a request for proposals to find a not-for-profit housing agency that will manage requests to live in the development’s market housing suites.
Meggs said some consider market-rental housing “affordable” because residents don’t pay a down payment or have to qualify for a mortgage.
He added: “The city has the [short term incentives for rental housing] program to encourage the private sector to do more market-rental housing because we believes it contributes to a more affordable housing stock.”