rent repayment

Vancouver project to offer condos, rental units

Wednesday, February 25, 2015

Sequel 138, a 97-unit affordable housing development located at 138 Hastings St. in Vancouver, B.C., has entered construction. The project offers low to moderate-income families and individuals access to 79 affordable entry level condominiums and 18 affordable rental apartments.

The six-storey development consists of two buildings linked by suspended walkways. Amenities include a second-floor private courtyard, an urban architectural garden, secured lobby entry, a community harvest table deck, an arts and media centre, ground level commercial space, a bike locker, a storage room, and a glass elevator with secure floor access.

Slated for completion in late 2015, Sequel 138‘s rental component will be operated and managed by the FJL Housing Society. The project’s Affordable Homeownership (AHO) Model provides down payment support for prospective buyers seeking a condo unit in the complex.

“In the past few years, there has been significant residential and commercial activity occurring in this neighbourhood, and carefully planned projects like Sequel 138 are essential to successful redevelopment,” says Derek Lew, FJL Housing Society Director. “Soon, the tenants of these affordable rental units will be able to be a part of this vibrant and growing neighbourhood, and enjoy all the amenities this unique development will have to offer.”

Construction of the development was financed by the Government of B.C. in the amount of $21.8-million.