A unique partnership created affordable housing units in Vancouver’s Coal Harbour, where many rental units have been lost to condominium development.
Terra worked with Affordable Housing Societies to negotiate a partnership with the City of Vancouver and Province of BC (through the HOMES BC program) to create C Side. As part of our development management services, Terra helped establish the partnership responsibilities involving land ownership, equity contributions, mortgage financing, housing subsidies, and long-term profit sharing.
The project has 113 units for low- and moderate-income families and 171 low-end market rental units. The family units are located in 31 townhouses surrounding the base of a 30-storey highrise, as well as in the first 11 floors of the tower. The upper floors of the tower house market tenants.
Terra has worked with Affordable Housing Societies since 1984, completing over 2000 new units together.Â