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Pacific Canada  + Canada  + Multi-residential Housing  | 
The federal government is providing $267 million for the Vancouver-area rental-housing construction projects.

Ottawa Invests $267M in Vancouver-Area Rental Housing Projects

The federal government is investing $267 million in the construction of 693 purpose-built rental-housing units in suburban Vancouver.

Ottawa said it will provide the funds through fully repayable low-interest loans from the Canada Mortgage and Housing Corporation. The 693 units will span three properties, two in Coquitlam and one in Port Coquitlam.

Private and public partners include the B.C. government, City of Port Coquitlam, Dogwood Holdings Society, Cotton Avenue Limited Partnership and Marcon Dogwood Properties Ltd.

The 2471 Gately Avenue project in Port Coquitlam will comprise 300 units in three six-storey buildings. The B.C. government is providing $1.5 million for a child care centre through a provincial fund for new child care spaces.

The Meridian, located at 515 Cottonwood Avenue in Coquitlam, will contain 267 units that include one-, two- and three-bedroom homes.

The 710 Dogwood Street low-rise development will contain 126 suites.

The three projects are located near rapid-transit lines. All three partners are slated to be completed by 2025.

Photo: CNW Group/Government of Canada


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CMHCGovernment of Canada

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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