Affordable Housing Strategy
City Council approved a new Affordable Housing Strategy on May 28, 2007.
The Richmond Affordable Housing Strategy contains a number of recommendations, policies, directions, priorities, definitions and annual targets for affordable housing.
The City has established three key priorities to address the need for affordable housing in Richmond. These are outlined below.
| Priority | Affordable Housing Type |
Household Annual Income Threshold |
Initial Annual Target |
|---|---|---|---|
| 1st | Subsidized Rental | less than $20,000 | 73 housing units |
| 2nd | Low End Market Rental | between $20,000 and $37,700 |
279 housing units |
| 3rd | Entry Level Homeownership |
less than $60,000 | 243 housing units |
Affordable is defined as meaning that no more than 30% of the gross income of a household is spent on housing costs (excluding cablevision, telephone, other telecommunications and utility fees).
The City of Richmond is working with other levels of government, the non-profit sector, and the private sector in order to achieve its targets. While the City has multiple tools and resources that it can contribute towards creating a wide variety of affordable housing options, it requires the valuable input of community members in order to achieve its goals.
The City’s current focus is on the 1st and 2nd priorities identified above, however, community input on the 3rd priority is welcome as we create new policy in this regard and as we make further progress on affordable rental housing.
The following information is available for public viewing in PDF format:
Richmond Affordable Housing Strategy
The following Appendices are also available for public viewing in PDF format:
Note: These items will open in a new window in PDF Format .
Appendix 1:
Results from the Stakeholder Consultations, Public Open House Meetings and Written Submissions
Appendix 2:
Minutes from Planning Committee and City Council
Appendix 3:
Background Materials and Key Measures and Indicators
Appendix 4:
Interim Reports, Draft Strategies and Draft Reports
To discuss a possible affordable housing initiative, or for more information, please contact:
Related Information: Real Estate ServicesJohn Foster
Community Services
Acting Manager
Phone: 604-247-4941
Email: john.foster@richmond.ca
