The B.C. government has reached a deal with the City of Vancouver and Holborn Properties to build up to 50 social housing units in the Little Mountain property prior to the completion of the rezoning process in order to avoid evicting the remaining tenants.
The province announced Thursday the mixed-use development, between 33rd and 37th avenues, and Main and Ontario streets, will contain 234 new social housing units to replace the old 224 units when complete.
According to the province, the new units, targeted to families and seniors, will be offered first to tenants that relocated off-site for the demolition and construction.
Tenants of the four original Little Mountain units who refused to vacate their homes for demolition will be allowed to remain until the new development is completed, and will then be moved directly into new housing, the release said.
"Today's agreement honours our commitment to include social housing units in the first phase of redevelopment at Little Mountain. Together with our partners, we will soon see the benefits of this socially inclusive and affordable housing community within Riley Park,” said Rich Coleman, B.C.’s minister responsible for housing.
All net proceeds of the development will be invested into social housing in the province to create more than 1,500 units in 14 city-owned sites in Vancouver.
"Little Mountain has a long history in Vancouver and with this redevelopment, we will see it revitalized to provide a range of housing options for Vancouver's growing and changing population,” Mayor Gregor Roberstson said.
A timeline for the completion of the development has not been released.
