Rental building for Indigenous tenants opens on Boundary Road in East Vancouver – The Province
May 10, 2021
Vancouver mayor says low-cost construction financing from Ottawa key to more affordable rents on projects like Lu’ma Native Housing Society development
A four-storey, 23 unit rental building for Indigenous people has opened on Boundary Road near 22nd Avenue in East Vancouver. The building is in the process of accepting tenants who will pay at least 15 per cent below market rates.
Three levels of government made the announcement Monday that the Lu’ma Native Housing Society development was supported by $6.4 million in federal funds in the form of an insured loan, and a $4.4 million grant from the province.
The project’s 23 units include seven suites for low-income Indigenous tenants who will pay rents 30 per cent below the median household income in the area.
