119 new co-op homes are coming to Burnaby, highlighting the impact municipal governments can have in bringing affordable housing to local communities.
Today, the City of Burnaby and Community Land Trust announced that construction is now underway at Burnaby Grove Housing Co-op, a mixed-income community which will bring 119 new affordable homes to Burnaby.
“This is another example of Burnaby’s support for housing co-ops and our commitment to making life more affordable for citizens by investing municipal land in partnerships with community housing developers,” said Burnaby mayor Mike Hurley. “We look forward to welcoming 119 new co-op households to their new homes in Burnaby.”
The City of Burnaby contributed $12.6 million in land, in-kind contributions, and development charge waivers to make the project possible.
“We are thrilled to celebrate the development of the first new housing co-op in Burnaby in decades,” said Thom Armstrong, CEO of the Co-operative Housing Federation of BC. “We hope this is just the first of many more opportunities to offer safe, secure, permanently affordable homes in thriving co-op- communities to Burnaby families.”
These new co-op homes, located at 6374 Byrnepark Drive, will be in a sustainable 5-storey building, located close to parks, schools, and other community amenities. Units include 55 1-bedrooms, 36 two-bedrooms, and 28 three-bedroom homes. Thirty units are fully accessible and another ten are fully adaptable. Twenty percent of the homes will be available at subsidized shelter rates, an additional 50% will follow provincial Housing Income Limits (HILS), with rent geared to thirty percent of residents’ incomes, and the remaining 30% of units will be offered at low-end-of-market rates.
The completed residences will be managed as a housing co-operative by Community Land Trust, a subsidiary of the Co-operative Housing Federation of BC, secured on a sixty-year land lease from the City of Burnaby, ensuring long-term security of tenure in family-friendly, permanently affordable homes.
“The Community Land Trust is proud to partner with the City of Burnaby and the province to develop and steward this new co-op community,” said Michelle Cooper-Iversen, CLT’s Chief Operating Officer. “This investment of municipal land will deliver affordable homes for generations to come.”
The development is expected to welcome its first new residents in 2028.
