Project Overview
Housing providers face a challenge with aging affordable housing stock in deciding whether to renovate and extend the life of existing units or pursue redevelopment.
CitySpaces has supported numerous affordable housing providers across British Columbia in assessing and prioritizing sites for either redevelopment or renovation. In response, we developed the Redevelopment Criteria Tool, a framework that housing providers can use to evaluate and prioritize redevelopment opportunities. The Tool also offers municipalities and planners a standardized approach to assess whether projects align with local affordability and housing objectives.
Key Highlights
The Redevelopment Criteria Tool comprises a criteria for evaluating and scoring of renovation or redevelopment opportunities. The guiding objective is sustainability: projects must be able to maintain or enhance affordability while supporting appropriate and viable housing for a provider. It considers factors such as site development potential, rental and unit mix, construction costs and equity requirements, facility replacement costs, adjacent site amenities, and local vacancy rates.
Our team successfully used the tool to help inform many of our non-profit clients with their options for portfolio redevelopment and prioritization when approaching funders.
Areas of Expertise
Land Use Planning
Visioning & Project Concept
Partnership Generation
Feasibility & Business Cases
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