(Artistic rendering of 3084 West 4th Avenue and 2010 Balaclava Street, Vancouver. (Ekistics Architecture)
On behalf of the property owner, Ekistics Architecture’s rezoning application for the property at 3084 West 4th Avenue and 2010 Balaclava Street called for 35 secured rental homes under the city’s Moderate Income Rental Pilot Program (MIRHPP).
This requires 20% of the residential floor area be dedicated for moderate-income households — translating into eight units with below-market starting rents ranging from $950 monthly for studios and up to $2,000 monthly for three-bedroom units. Moderate incomes are defined as incomes between $30,000 and $80,000.
The remaining units will be rented at market rates.