Plans for a new 50-unit affordable housing apartment complex by Ginn Group’s nonprofit arm Ginn Gives has been planned for the international district of Vancouver. Ginn Gives intends to start building on Allegro Pointe before the end of the year, with a groundbreaking ceremony on December 2 at the site, 2929 N.E. 65th Ave., near Living Water Community Church. The initial occupancy is scheduled for late 2022, with the project scheduled to be completed in 2023. The anticipated cost is less than US$11 million. According to images produced by LSW Architects, who collaborated with Ginn on the project, the plans feature 50 units of one- and two-bedroom apartments, all with affordable housing, in a three-story structure that appears sleek and white. There will also be 59 on-site parking spots, according to the plans.
Who can apply for Ginn Group’s affordable apartments in Vancouver?
Tenants must earn at least 80% of the local median income, which in 2017 was US$75,253, according to the U.S. Census Bureau. Rents for each renter will be computed using the city of Vancouver’s Multi-Family Tax Exemption Program, which is based on affordable housing. The inexpensive flats assist to fill a significant shortage of lower-income housing in Vancouver, which is forcing people out of the city. Any surplus revenue (after expenditures and repayment of the loan) is intended to be reinvested in other community activities, such as more affordable housing developments or assistance for other NGOs.
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Ginn Group’s Melissa Lynn Galland, director of brand strategy and experience, stated, “Affordable housing options that aren’t as lovely are more common. That isn’t the point in this scenario. We want it to be both attractive and reasonably priced. We’re hoping that our industry contacts can assist us in making the flats cheaper.” Ginn Gives intends to construct 250 affordable housing units in Southwest Washington by 2030, according to Galland. Patrick Ginn’s Vancouver-based Ginn Development intends to use its contacts in the construction and development industries to leverage reduce costs and make the project as economical as feasible.
