Affordable Housing to rent or buy
UniverCity is committed to providing affordable housing for all, including rental and ownership options. Rentals include purpose-built apartments in the Cornerstone building, as well as innovative secondary or “flex suites” within strata-titled apartments.
Often referred to as ‘mortgage helpers’, these flex suites are equipped with bathrooms and cooking facilities and can be rented out separately from the rest of the unit. The City of Burnaby was one of first municipalities in Canada to approve zoning for such suites.
In partnership with Vancity Enterprises and Resource Rethinking Building, the Trust also has provided affordable, family-oriented ownership options to SFU faculty and staff within the 60-unit ‘Verdant’ development. The Trust leased land at 30 per cent below market and the developers committed to affordable designs and a fixed and lower limit on marketing expenditures to accomplish this goal. Read more about Verdant.