City of Vancouver Sites

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

Terra Special Projects is the lead consultant and development manager for this $120 million project on four City of Vancouver-owned sites.  The project features highrise, low rise and townhome designs: 6 building with a total of 358 units for singles, families and seniors.  The Sanford Housing Society BRice project on Kingsway was the first occupied, followed by the Fraserview Housing Co-op's Riverside Apartments.  The remaining buildings will be completed in 2019.

Responding to a City of Vancouver RFEOI for the development of affordable housing for 4 City-owned properties, Terra brought the Land Trust and several non-profit housing associations together to propose a mixed market and non-market portfolio of projects.  The 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 providing 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.