| In October, 2006, the provincial government released its new housing strategy, Housing Matters BC. It outlines that older, obsolete buildings built on under-utilized land will be redeveloped over time to serve more households in need of housing assistance. "Redevelopment provides a number of significant opportunities. Working in partnership with the private and non-profit sectors, these lands can become mixed-income communities with subsidized housing more fully integrated into larger communities," the report states. It also identifies that any proceeds from redevelopment will be reinvested back into affordable housing assistance. BC Housing's Little Mountain public housing site is the first to be redeveloped as part of this change. Built in the early 1950s, it's the oldest public housing development in Vancouver and needed costly repairs and extensive maintenance. Covering 15.27 acres in the heart of Vancouver, the site holds a great opportunity for redevelopment now. As part of the redevelopment, BC Housing will adhere to the Residents First principles.
Holborn Properties has been selected as the development partner to work with BC Housing and the City of Vancouver to purchase and redevelop the site, replacing 224 existing public housing units with at least an equal number of new subsidized housing units. For more information:
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