Renovated Buildings Welcome Burnaby Residents Back with Unchanged Rents

Source: City of Burnaby, Catalyst Community Development

In Burnaby, tenants are returning to refurbished buildings at their original rents rates for the first time, marking the successful implementation of replacement rental units under Burnaby’s innovative Rental Use Zoning Policy.

“We made a promise to Burnaby tenants five years ago to ensure they were not displaced or priced out of their neighbourhoods as a result of redevelopment,” said Mayor Mike Hurley. “Today, I’m thrilled to see the first wave of tenants return to beautiful homes in a fantastic new building in Burnaby and I’m thankful for the partners who have helped make this program such a success.”

The project is at 6521 Telford Ave, and was built by Intracorp Homes BC, is a six-story, wood-frame building. It has 59 below-market and 7 market units. Out of the 49 tenants who were eligible for replacement units, 32 are coming back to the new building next month. The other non-market units will be rented out at 20% below the CMHC median market rents to individuals and families. The rental use zoning policy makes sure tenants can come back to the new building at the same rent. The Telford on the Walk project shows the importance of partnerships in making housing affordable. The project got support from different places, including $14.9 million from the federal government, $12.5 million in low-interest loans, and $2.4 million from the Affordable Housing Fund. Intracorp Homes BC gave $5.4 million, and the City gave a $460,000 grant. The new building is owned and run by Catalyst Community Developments, a non-profit society.

About Rental Use Zoning in Burnaby

In 2019, Burnaby took the lead in B.C. by becoming the first city to protect and enhance rental housing. It did this by requiring a 1-to-1 replacement of all rental units in multi-family buildings (with five or more units) lost through redevelopment. Displaced tenants must also be offered a unit in the new building, with the same number of bedrooms and at the same rent they paid before the redevelopment. For units without a returning tenant, rents must be set to 20% below the CMHC market median rents.

Learn More: Rental Use Zoning Policy

Quotes:

Evan Allegretto, President, Intracorp Homes BC
“Intracorp Homes is honoured to be a part of the collective effort addressing our region’s housing crisis. Our partnership with both Federal and local governments has culminated in Telford on the Walk—an achievement as the first development completed under the City of Burnaby’s new housing policy. This project exemplifies the power of collaboration between the public and private sectors. I’m proud of our role in fostering communities where every individual can find a safe, affordable place to call home.”

Luke Harrison, President, Catalyst Community Developments 
“Catalyst is grateful to have partners like Intracorp, CMHC, and the City of Burnaby to help in our work to create housing that is affordable to the people who make our communities work. Though the individual contributions are significant, it is in collaboration that we can develop solutions that meet and exceed the community’s needs.”

The Honourable Terry Beech, Minister of Citizens’ Services and Member of Parliament for Burnaby North—Seymour on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities
“Every Canadian deserves a safe and affordable place to call home. That’s why our government is taking action right here in Burnaby to increase the supply of new rental developments that are located near good jobs, transit, and important services and amenities. Thank you to the city of Burnaby and our development partners for their leadership.” 

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