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More affordable rental homes are opening in Richmond for women, mothers, and children.
Photo courtesy City of Richmond
New affordable homes open for women and children
Published 4:10 PDT, Wed April 20, 2022
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Twenty-seven new affordable and safe rental homes are available for single women and women with children in Richmond.
Located at 6320 and 6328 No. 3 Rd., the studio, one-, two- and three-bedroom rental homes are part of the Paramount development. Monthly rents are below market rate and range from $860 for a studio unit to as much as $1,569 for a three-bedroom unit.
The Paramount is a development in Central Richmond with 540 residential units, 27 strata-titled affordable market rental units, and office and retail space built by Keltic Development.
"Increasing the supply of housing remains a priority for the City of Richmond, and council continues to make significant progress in creating new rental housing units across Richmond,” said Mayor Malcolm Brodie. “These 27 units in Paramount are just a few of the almost 1,220 rental units approved in recent years as we continue to work in partnership with BC Housing and other stakeholders to provide more affordable rental housing options in our community."
The rental housing, named YWCA Moiz and Nadia Place, is owned and operated by YWCA Metro Vancouver, which fundraised $3.3 million to purchase the homes from Keltic Development.
"We are excited to be able to offer 27 new homes to single women, moms, and their children in the heart of Richmond,” said Michelle Sing, interim chief executive officer of YWCA Metro Vancouver. “Affordable housing is fundamental to women's safety and economic security. This development wouldn't have been possible without the support of the federal and provincial governments, the City of Richmond and, of course, Keltic Development as well as our lead donor, Moiz and Nadia Lalani. We are extremely grateful for their vision and support to create our newest housing community and our first in Richmond."
BC Housing, through its HousingHub program, allocated $2.7 million in Federal Bilateral BC Priorities Housing Initiative funding to the YWCA for the purchase. The units were also made possible through the City of Richmond's Low-End Market Rental Program, which creates affordable housing within multi-family developments throughout the city.
Residents of YWCA Moiz and Nadia Place will have access to the development's many amenities, including a multi-purpose exercise room, a landscaped courtyard and seating area, an outdoor play area, a children's learning centre and library, meeting rooms, workstations, a lounge, and 24 designated parking spots.
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