Deeply affordable: 20
Lookout has owns a vacant-lot property at 545 Cordova Street which for many years which has been used for parking. A six-storey building will be constructed on a tight 25-foot-wide lot with 20 studio units. In November 2021 the City was awarded funding through the Major Cities Stream of the Federal government’s Rapid Housing Initiative Round 2. The City of Vancouver partnered with Lookout to rapidly invest in local social housing creation while leveraging non-profit’s predevelopment work to mobilize time sensitive senior government funding. The Lookout Society will operate the Project as deeply affordable social housing with in-reach support services
Profile Maps Last Updated: July 2, 2024
Notes:
**Priority Population(s): These are described for projects that explicitly fill some or all units with people who are part of a specific demographic that faces unique needs related to housing insecurity.
**Green Building Standard: This is described for projects that are designed according to a green building certification such as LEED (Gold/Platinum), Built Green (Gold/Platinum), and Passive House.
**Affordability Definitions:
Deeply Affordable – A home that is affordable to people on a very limited income, such income assistance, disability assistance, and income support programs for seniors.
Rent Geared to Income – A home that is available to people with modest incomes. Rent is calculated to be affordable based on the tenant’s income.
Moderate Income – A home that is available for a monthly rent that is equal to the low-end of rents available in the private market. Also referred to as ‘Middle Income’ and ‘Affordable Market’.