Rental project that includes some low- and middle-income housing opens in Coquitlam

It may have arrived a little later than expected, but a six-storey rental building in Coquitlam’s Town Centre neighbourhood has officially opened its doors.

The 132-unit project features a mix of market units, 65 rent-geared-to-income units, and 27 deep-subsidy units.

Monthly rents are projected to range from $500 to $3,150, according to a release from B.C. Housing.

Following the 2021 groundbreaking, construction was scheduled to be wrapped up in the summer of 2023.

Along with more than $14 million from the province and $8.8 million from the Canada Housing and Mortgage Corporation, Coquitlam chipped in $3.3 million for the project, noted Mayor Richard Stewart.

“I am excited to see the opening of the first phase of Hoy Creek Co-Operative Housing, a milestone made possible through collaboration of all levels of government,” Stewart stated in a release.

Located at 2905 Glen Dr., the project is set to be managed by the Community Land Trust Foundation of B.C. alongside the Hoy Creek Housing Cooperative. The land had been occupied by 60 townhouses which were demolished after becoming uninhabitable, according to B.C. Housing.

“People and families now have access to new affordable homes in the community where they have put down roots and built a life,” stated B.C. Housing Minister Ravi Kahlon.

Units in the building range from studios to three-bedroom units, with 12 accessible units.