Two Liberal members of Parliament were at an East Van apartment building Tuesday, announcing the first funding from the federal government to the Metro Vancouver Housing Corporation in a generation.
Metropolitan Toronto’s population of 5.9 million is more than double Metro Vancouver’s 2.4 million. And Toronto Community Housing’s 58,000 units is about 17 times the 3,400 operated by Metro Vancouver Housing . Both the Vancouver and Toronto announcements this month involved funding from the new National Housing Co-Investment Fund, part of the Liberals’ National Housing Strategy. But the funding commitment for non-market housing repairs in Toronto was 1,000 times larger than Vancouver’s.
“What Toronto did was bundle all these applications together to simplify the process,” Vaughan said. “And we’re in conversations now with the major housing providers in the Lower Mainland to do the same sort of thing, to bundle collective capital repair programs together.” Reached after Tuesday’s Vancouver announcement, Fry said: “I’m happy to see it, and I’m looking forward to more announcements like this because we certainly need it.”Fry’s mother Hedy, the longtime Liberal MP for Vancouver Centre, was at Tuesday’s announcement on behalf of the federal government. She stressed the importance of the current federal government’s move to “get back into the business of housing” with the 2017 launch of the National Housing Strategy.
The latest benchmark price for all residential properties in Metro Vancouver is just over $1 million, according to the Real Estate Board of Greater Vancouver, and the benchmark price for a detached house is $1.4 million.
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