Vancouver’s newest housing co-op, 95 East 1st Avenue, completed in Olympic Village, bringing an additional 135 affordable units to market in a burgeoning neighbourhood.
Owned by the City of Vancouver and developed by Concert Properties, this 15 story Railway Housing Co-op was included as part of its “The Creek” market condo development which also includes ultra high-end buildings, Navio and Voda.
Located on the corner of Quebec Street and East 1st Avenue, this co-op consists of 44 two-bedroom and 29-three bedroom suites, with the remainder of the building a mix of one-bedroom and studio suites. With a wide range of unit types, they are targeting a range of tenants including families with children, couples and singles.
The Co-operative Housing Federation of BC (CHF BC) says more than half of the co-op’s suites will be affordable to households with annual incomes between $25,000 and $55,000.
Vancouver Mayor Gregor Robertson was in attendance at the opening.
“This type of family-oriented co-op housing in Olympic Village helps us tackle Vancouver’s affordability crisis, especially for families struggling to find long-term rental homes within their means,” said Robertson.
The application process was completed long before the opening, so anyone looking to get into this development is out of luck for now, though opportunities may arise in the future!
Photo credit: CHF BC
For more information on this project, give me a call!
Realtor and Olympic Village Specialist