Another 13 units of what is considered “affordable" rental housing by the City of Richmond could be coming to City Centre in the near future.
A 14-storey condo tower planned for 8131 Westminster Hwy., close to No. 3 Road, which includes 134 units, could have 10 per cent of them earmarked as affordable rental units, with rents ranging from $811 to $1,480.
There are maximum income thresholds for these units, which include two- and three-bedroom units and one studio apartment.
The application was processed before city council raised the requirement for the number of affordable units from 10 per cent to 15 per cent in City Centre, so this development falls under the old rules.
Any new applications in City Centre will have to have 15 per cent affordable homes.
The rent for the 400-square-foot studio apartment will be $811, rents for the eight 741-square-foot two-bedroom apartments will be $1,218, and the four 980-square-foot three bedroom apartments’ rents are pegged at $1,480.
The maximum income for someone renting a studio apartment is $34,650, and the maximum for someone renting a three-bedroom apartment is $58,050.
There are no age-based restrictions allowed on these rental homes and residents of these apartments will have access to all amenities in the building.
Furthermore, if the owner wants to sell the rental units, all 13 units must be sold to one owner.
The developer of this condo tower is a numbered company, 1054824 BC Ltd.
The housing agreement for this new condo tower will be dealt with at next week’s planning committee.
