Construction Begins on New Mixed-Use Development in Vancouver’s Downtown Eastside

📅 6 days ago

A new mixed-use development is underway in Vancouver's Downtown Eastside, backed by substantial government funding and community partnerships, set to provide affordable housing and community resources.

Construction of a new mixed-use development has officially commenced in Vancouver’s Downtown Eastside, marking a significant step forward for affordable housing initiatives in the area. This project, located at 315 Main Street—also referred to as 172 East Cordova Street—has garnered support from multiple government entities and community organizations. The site, which previously housed a low-rise commercial building built in 1974, was sold for $14.5 million in July 2024, with the transaction facilitated by Corbel Commercial.
The driving force behind the development is MAC Development and Housing Society, a collaborative effort that includes the Lu’ma Native Housing Society, Frog Hollow Neighbourhood House, and the Affordable Housing Non-Profit Rental Association. The development application for this site has been in progress since 2021, culminating in a proposal for an 11-storey mixed-use building that will feature 118 social housing units alongside office, retail, theatre, and educational spaces. The project received its development permit earlier this year, in February.
A groundbreaking ceremony held earlier this month marked the official start of construction, during which it was announced that the total funding for the project amounts to $96 million. The Government of Canada is contributing $41.9 million through the Affordable Housing Fund, while BC Housing’s BC Builds program is providing $17.7 million. The University of British Columbia (UBC), which will relocate its UBC Learning Exchange from 612 Main Street to this new facility, is contributing $12.5 million. Additionally, the Province has allocated $403,750 through the Mass Timber Demonstration Program.
Records from the City of Vancouver indicate that the city owns the project site and is providing $14.5 million in land lease contributions, along with $2.7 million in waivers to MAC Development and Housing Society, which is also contributing $2.4 million. Furthermore, the Metro Vancouver Regional District is offering $1.2 million in waivers, while TransLink is providing $258,900 in waivers.
With funding from BC Builds, the 118 housing units will be available at affordable rates. According to the Province, 79 of these units will cater to middle-income households, with nearly half of them offered at 20% below market rates. The remaining 39 units are designated as “deeply affordable” for individuals on income assistance. The Province emphasized that the target demographic includes a wide range of low and middle-income residents, particularly multigenerational families, seniors, Indigenous Elders, and individuals with disabilities.
The architectural design of the building aims to celebrate the rich histories of the Indigenous, Chinese-Canadian, Japanese-Canadian, and other communities that have long been part of the Downtown Eastside, reflecting the diverse backgrounds of its future residents. UBC’s acquisition of 10,000 square feet on the ground and second floors will house the UBC Learning Exchange, which provides free educational programs and leadership opportunities, including English conversation sessions and digital literacy workshops.
Additionally, a community theatre planned for the ground floor is intended to be leased by a non-profit society, creating a space for local community arts groups to utilize. Minister of Housing and Municipal Affairs Christine Boyle commented on the project, stating, "Through consultation with residents and local groups, this new housing has been designed in partnership to meet the unique needs of the community it serves. By taking a heritage-conservation approach that prioritizes continuity and connection, this project honors the neighborhood’s rich history and celebrates the diverse communities that have shaped the Downtown Eastside while building on the community-based resources already in place."

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