Rivermark

Catalyst Community Developments Society

Project Partners

Intracorp

Project

Rivermark

6900 Pearson Way, Richmond, British Columbia

Total Homes

Breakdown

Rent Geared to Income: 9 ; Moderate Income: 22

Development Status

Occupancy

Date of Completion

2020

The City of Richmond’s Affordable Housing Strategy requires a portion of homes in new residential developments to be offered at below-market rents. To help meet this requirement, Intracorp partnered with Catalyst Community Developments Society to purchase and operate affordable rental housing within a master-planned waterfront community. The project provides a mix of one-, two-, and three-bedroom homes in a standalone apartment building, creating long-term affordable housing opportunities for local residents. Located near the Fraser River, the Richmond Olympic Oval, and local transit, the development offers residents convenient access to recreation, services, and amenities.

Funding Support

Acquisition Loan in 2020

Project Type

Acquisition

More Info

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’.

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