City receives $5.8 million in applications for affordable housing funding
Press Release Date:
Friday, May 19, 2017
The first year of the City’s new voter-approved Affordable Housing Fund is getting off to a promising start, with $5.8 million in project applications submitted for funding consideration in 2017.
The City received 10 project proposals that would provide much-needed housing for low income residents and those experiencing homelessness.
A total of $3.7 million is available this year for affordable housing projects within the city. The Vancouver City Council will make a final decision on how the funding will be spent this summer.
“We have received an impressive group of applications for some very worthy projects that, if fully funded, would build 237 new housing units and rehabilitate or preserve 28 more,” said City of Vancouver Community and Economic Development Programs Manager Peggy Sheehan. “It’s wonderful to see so many agencies and organizations interested in helping find solutions for our low-income housing crisis.”
Project proposals received by the City include:
- Improvements to an existing home for single homeless mothers who are pregnant or parenting infants ($35,000)
- Construction of 49 low-income units, 37 of which would serve formerly homeless families and individuals ($1,032,520)
- Construction of 28 low-income units, 75 percent of which would be dedicated to people experiencing homelessness ($900,000)
- Construction of 30 units, 24 of which would be for low-income renters ($500,000)
- Construction of 30 units for chronically mentally ill homeless individuals ($500,000)
- Construction of four rent-to-own single family homes targeted to low income families with children ($200,000)
- Rehabilitation of two existing affordable housing properties that serve chronically homeless individuals and families ($89,000)
- Rehabilitation of an existing 20-unit affordable apartment building to serve seniors, chronically homeless individuals and veterans ($335,000)
- Construction of 18 low-income units in two buildings serving formerly homeless individuals and people with developmental disabilities ($250,000)
- Construction of 40 low-income units in a 78-unit mixed-income development serving families with children, seniors and formerly homeless individuals ($2 million)
For more information about Vancouver’s Affordable Housing Fund, visit www.cityofvancouver.us/AffordableHousingFund.
Peggy Sheehan, Community and Economic Development Programs Manager