Empty Homes Tax put to good use – Vancouver creates affordable housing
Four affordable housing projects in Vancouver are receiving grants totalling more than $8.7 million dollars.
The grants will go towards the construction of 269 units in these social housing projects:
- Finnish Care Home with a grant of $890,000;
- Lee’s Senior Housing with a grant of $655,000;
- Salvation Army with a grant of $910,000; and
- Aboriginal Land Trust and Lu’ma Aboriginal Housing Society with a grant of $6,255,000.
The grants support the investment of multiple partners to deliver the proposed housing projects and are funded by revenue from:
- the Empty Homes Tax;
- the city’s capital budget; and
- the $25 million Community Housing Incentive Program (CHIP) which awards housing providers with grants which increase the affordability of a social or co-op housing project by providing a capital contribution towards its construction.