The document discusses the Affordable Housing Trust, a proposed non-profit organization and funding model to address the housing crisis in Vancouver through building affordable housing units. The Trust would work with corporate and individual investors to buy land, build multi-unit housing developments, and sell 50% of units at market rate and 50% at below-market rates in perpetuity via deed restrictions. It provides examples of how different levels of funding could enable the Trust to take on development projects and expand to help other non-profits tackle the lack of affordable housing.
3. Hong Kong
Vancouver
San Fransisco
Sydney
San Jose
Melbourne
Auckland
San Diego
Los Angeles
London
0 3.75 7.5 11.25 15
Least Affordable Housing Markets
Median Multiple:
Median House Price
Divided by Median
Household Income
(Gross)
10. If 5% of Vancouverites
invested $2,000 each it would
enable the trust to build two
$30 M dollar projects at once.
Once the model is proven it
will be shared with other non-
profits to continue “Building
Solutions to the Housing
Crisis.”
11. Corporate Social Responsibility
Hundred’s of corporations in
BC committed to CSR
Cause related marketing
Brand awareness
Goodwill
Money markets 0.05% to 0.01% Media coverage
12.
13. Cost Comparison
Full Market Cost
(sf) $690
Affordable Covenant $345 $517.50
SF per unit 800 600 300
Full Market
(690/sf) $552,000 $207,000 $103,500
Covenanted deed at
50% in perpetuity
($345/sf)
$80,000 $50,000 $26,000
Household Annual
Income required $80,000 $50,000 $26,000
Condo fees
(mtg based on 95%
first time home owner)
$400 $300 $150