A lot is happening with New Westminister’s housing market, new affordable housing projects, rent bank program, and a proposed new apartments for artists.
Here is a recap of what these projects have in store and what is means for homeowners in New West.
Rent bank programs are not particularly new to the lower mainland but for New West it is. The way Rent Bank Program works is that the bank offers low-interest rate loans that have a high rate of repayment. These loans can be used for paying off past due rent, utilities, security deposits which are directly paid to your landlord/creditor. Individuals $1,300 for individuals or $1,800 for families. This is a great addition to the affordable housing projects because it gives people more independence and freedom.
New West has greenlit a few Affordable housing projects. The two-story building will have six units. People with disabilities and low-income families will have priority over these.
Other projects include:
- Possibly a new mental health and substance use building attachment to the Royal Columbian Hospital.
- Expansion to The Gallery at Queen’s Park which will have increased wall display area and offices
In addition to these projects, a new specialized housing unit for aging artists is in the works.
A proposed a mixed-use development at 813 Carnarvon which include 195 market residential units and 50 units for seniors. The proposed building will be 25 storey unit will have reserved units offered to perform artists from the Performance arts Lodges Vancouver. The audience is mainly for aging artists and people are prescreened for applications.
With a housing project such as this, it brings is a more diverse crowd.
What do all these changes mean for residents?
Rent Bank Program:
- Will benefit low-income individuals and families making fewer people homeless
- Tenants may get fewer people they need to evict
- Possibly more residential buildings in the works
- Strengthens the community, more people with financial security means neighborhoods and communities grow
New Affordable Living Projects:
- Extra mental health and disabilities services
- More people getting the help they need could lead to less homelessness and appropriate care
- More facilities for the community means more public engagement
Proposed Artist and Senior Housing:
- Provides safe, affordable housing for seniors
- Provides a platform for aging artists to run events and festivals
The Real Impact
What these new initiatives provide is a step in the right direction in handling the out of control housing situation within New West and the lower mainland. New West is trying to have creative ways to inject culture, a sense of community, and stability for those in need. It is with affordable housing projects such as these New West communities can grow.