Today the federal government announced over $29 million in funding through the Canada Greener Affordable Homes program and the Affordable Housing Fund to help update and retrofit 284 rental homes in three projects in Burnaby. The announcement was made at Post 83, a non-profit co-operative housing project located at 4221 Mayberry Street.
“Our Government is committed to helping communities reduce energy costs and greenhouse gas emissions, while upgrading and repairing their aging affordable housing stock,” said Wade Chang, Member of Parliament for Burnaby Central. “This project will help make more than 280 homes in Burnaby more sustainable, affordable, and comfortable for future generations.”
“We’ve worked closely with CMHC, our consultants and the co-op to make these upgrades feasible, extending the lifespan of existing buildings is crucial to housing affordability,” Monica Morgan, Executive Director, Community Land Trust. “By making energy-efficient upgrades we’re able to make these homes more sustainable and reduce energy costs for residents.”
Retrofits and upgrades planned for this building include new high-performance windows, doors, roofing and insulation, upgraded heating, cooling and ventilation systems, modernized elevators, energy-efficient lighting, and rooftop solar panels. In addition to reduced energy costs, many of these upgrades will also result in greater comfort and safety for residents during extreme weather events for improved heating, cooling and air circulation within their homes.
“As we look to build and sustain affordable housing options, it’s important to remember that the most affordable housing is housing that already exists,” continued Morgan. “Many aging buildings require significant renovations in order to remain viable for the residents who have built their lives and communities in these co-ops. Investing in existing homes allows people to stay where they belong, at rents they can afford, while strengthening the long-term housing ecosystem. Funding like the Canada Greener Affordable Housing Program makes this work possible. These renovations will strengthen these buildings for the long term, showing that when governments invest and stay invested, housing co-operatives continue to deliver lasting value for communities.”
In 2022, Post 83 Housing Co-op was part of an acquisition by the City of Burnaby and Community Land Trust, which preserved 425 affordable homes at risk of being lost to private development.
Read the full release from Canada Mortgage and Housing Corporation (CMHC).
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