A unique partnership involving a major developer and social housing agency is moving from the drawing board to reality in Coquitlam.
On Wednesday, a ground breaking was held for a new 26-storey highrise located at 520 Como Lake that will also include seven non-market townhouse units acquired by the YWCA.
The new building called Crown, which will be complete by 2017, is a partnership between the YWCA and Beedie Living, the developer.
Ryan Beedie, the president of Beedie Development Group, said he sees the development and partnership as a model for Coquitlam and other jurisdictions.
“Working to improve the community is one of the cornerstones Beedie represents and we see this project as a great example of that,” he said.
Arthur Mills, the vice-president of housing services for the YWCA, suggested the townhouses will be a great addition to the city’s social housing supply, adding the partnership is one of the few ways left to develop social housing.
“From our perspective, this is really, really a great thing,” he said.
“Many women will break from the cycle of poverty and dependency to achieve personal self-sufficiency and the best possible future for their children.”
The highrise is located next to the YWCA’s Como Lake Gardens.
The development features 180 units of market housing, with 100 already sold.