Deeply Affordable: 27 ; Rent Geared to Income: 65 ; Moderate Income: 40
The Hoy Creek co-operative was built in 1981 with 157 units, including 97 apartments in two buildings and 60 townhomes. The townhomes become uninhabitable due to mould, rot and old plumbing and were demolished. The property was transferred to the Community Land Trust Foundation of B.C. which is undertaking a multi-phased redevelopment of varied tenure from co-operative housing to shared equity/affordably home ownership. Phase 1 of the project is a 6-storey rental apartment building with 132 units. The Community Land Trust Foundation of B.C. is operating the new homes in partnership with the Hoy Creek Housing Co-operative.
Profile Maps Last Updated: July 2, 2024
Notes:
**Priority Population(s): These are described for projects that explicitly fill some or all units with people who are part of a specific demographic that faces unique needs related to housing insecurity.
**Green Building Standard: This is described for projects that are designed according to a green building certification such as LEED (Gold/Platinum), Built Green (Gold/Platinum), and Passive House.
**Affordability Definitions:
Deeply Affordable – A home that is affordable to people on a very limited income, such income assistance, disability assistance, and income support programs for seniors.
Rent Geared to Income – A home that is available to people with modest incomes. Rent is calculated to be affordable based on the tenant’s income.
Moderate Income – A home that is available for a monthly rent that is equal to the low-end of rents available in the private market. Also referred to as ‘Middle Income’ and ‘Affordable Market’.