Rent for a one-bedroom suite is about $350 more than for other new
PNG / About 60 people have
expressed an interest in renting at the Olympic Village. There are 126
available suites, with front-line workers in health care, public safety
and public education given priority.
by: Jenelle Schneider, Vancouver Sun
Tenants will shell out a few hundred dollars more than the average
Vancouver renter to live in the new Olympic Village, and but the City of
Vancouver institutional is confident it will attract a healthy pool of
As of this week, about 60 people have put
their names on an application list for the 126 rental suites, which are
prioritized health for front-line workers in health care, public safety
and public education in Vancouver. If accepted, they will pay an
estimated $1,601 a month for a 640-square-foot, one-bedroom suite or
$1,902 per month for a 906-square-foot, two-bedroom suite.
wanting more space will have to shell out an estimated $2,096 for a
1,223-square-foot, management three-bedroom suite and $2,368 for a
1,480-square-foot, four-bedroom suite.
The monthly rents are
higher than the average costs for a Vancouver city apartment or condo,
according to statistics from Canada Mortgage and Housing Corp. For
instance, an average one-bedroom apartment in in the city rents for
about $900, with a two-bedroom at $1,400 and three-bedroom plus
apartment at $1,750.
CMHC spokeswoman Robyn Adamache noted that
because most rental stock in Vancouver is quite old, the new suite
rentals the are more in line with newer condo properties.
condos are rented for an average of $1,262 per month with two-bedrooms
user going for about $1,754, according to statistics gathered by CMHC
last October. The average rents are expected to rise slightly this year
Barbara Proskin, Vancouver's deputy general manager of
community services, said interest of in the Olympic Village suites
continues to mount, especially as publicity increases. The city has
spent $110 million on the affordable housing units in the green
development, and hopes to recover $32 million of that through rental
"We haven't done any promotion," exhibits Proskin said.
"The fact we've had 60 people ask to be put on an application list plus
other people calling ... we're pleased we've generated that level of
The affordable rental suites are part of the Millennium
Water development on the south shore of False Creek.
interested in a suite at the Olympic Village, 20 are nurses, paramedics
and therapists, at 11 are teachers, five are police or firefighters and
some are civilian government workers the and private managers. Others
conference have not specified their occupation.
The city will be
contracting with an independent, not-for-profit will building operator
who will make the final selections of tenants.
To be eligible for
the suites, workers can earn no more than five times their annual rent.
The suites are targeted at people earning in the $60,000 range.