Federal Government Allocates $574 Million for Vancouver Rental Projects

The initiative aims to construct nearly 1,000 rental homes to address the city's growing housing demand.

The financing is part of the Apartment Loan Construction Program, which provides low-interest loans to encourage rental developments for middle-class Canadians.
Four Vancouver locations will benefit from the funding, including a major project on 42nd Avenue by Marcon Developments Ltd.
The 42nd Avenue site will feature 211 apartments, with a mix of unit sizes, and is strategically located near the Oakridge town centre and a Canada Line station.
Additional sites at 1099 Harwood St., 1066 Harwood St., and 1317 Richards St. will also receive substantial loans to boost housing availability.
Harjit Sajjan emphasized the importance of these projects in meeting the housing needs of Vancouver's expanding population, providing homes close to essential services and employment opportunities.