VANCOUVER (NEWS1130) - A development on Vancouver's Downtown Eastside may be a prototype for future projects as the city tries to make things more affordable for renters.
The micro-lofts located at Burns Block on West Hastings are 270 square feet, a bit larger than the area covered by two standard parking spaces. Everything is in one room with a Murphy bed that folds up into the wall. The suites come furnished or unfurnished, with flat screen TVs built right into the walls to conserve the space.
The average rent is $675 per month and it's hoped this project will be the first in a line of similar projects which could go a long way toward revitalizing the Downtown Eastside. Jon Stovell with Reliance Properties, one of the companies behind the project, says the units will be available to anyone. "This is a free market project and simply available to first come, first serve and normal credit checks and that kind of thing, but no means test."
City Councillor Geoff Meggs applauds the companies behind the project for coming together to make this development work.
However, he isn't sure this type of arrangement is the answer to all of Vancouver's affordable housing problems. "The city's capacity, either through land use or through incentives to really trigger a lot of cheaper housing is quite small. We're going to have to get Victoria and Ottawa to revitalize the programs they had in the 70s that were so successful."
Tenants are expected to start moving in by March of 2011.