Burnaby

Burnaby Approves $3M Grant for Affordable Housing Project at 3838 Hastings Street

City Council Meeting
Date: 2024-03-11
development


The City of Burnaby is considering a $3,054,700 grant from the Community Benefit Bonus Affordable Housing Reserve (CBBAHR) to S.U.C.C.E.S.S. Affordable Housing Society for the development of a new non-market housing project at 3838 Hastings Street. The project was previously approved by Council in 2017 and received provincial funding in 2018.

Key Details:
  • Location: 3838 Hastings Street (formerly 3802 Hastings Street)
  • Applicant: S.U.C.C.E.S.S. Affordable Housing Society
  • Project: 6-storey, mixed-use building with 161 non-market rental units
  • Affordability: Approximately 70% of units will be affordable to households with very low and low incomes
  • Total City Contribution: $31,364,700, including the grant and the assessed value of the land
Legislative Status:
  • Approved: Council approved S.U.C.C.E.S.S. for the development in 2017 and granted Final Adoption of Rezoning Bylaw #19-03 in 2023.
  • Pending: Council is now considering the $3,054,700 grant request from the CBBAHR to offset capital costs for the project.
Main minute
CBBAHR Grant Request for Non-market Housing Development at 3838 Hastings Street 2024-03-11.pdf