Media Release
September 18, 2023
For Immediate Release
Burnaby, B.C. – Low to moderate-income individuals and families are moving into 20 new affordable rental homes in Burnaby. Susana Cogan Place is Tikva’s most recent affordable housing project, developed in partnership with Polygon Homes and made possible with financial support from BC Housing.
“Susana Cogan Place provides stability and security through affordable housing for people to live, work and retire in the community they know, here in Burnaby,” said Ravi Kahlon, Minister of Housing. “Our government is building housing at a historic rate and these 20 new homes are another example of how we can work together to build a province where everyone has a good place to call home and no one gets left behind.”
Susana Cogan Place is a 20-unit development comprising studio, one and two-bedroom homes. It is part of a larger five-storey, 122-unit condominium.
“I am delighted to see Susana Cogan Place and its new affordable rental homes open in our community,” said Raj Chouhan, MLA for Burnaby-Edmonds. “These new cost-effective homes will provide a sense of well-being and a place for many families and seniors to call their own.”
Tikva’s units on the 3rd floor are proudly named in loving memory of Susana Cogan z” l, whose leadership was the driving force of Tikva from 2006 to 2017.
“These homes are a welcome addition to the Burnaby community,” said Anne Kang, MLA for Burnaby-Deer Lake. “We know more housing like this is needed to help people live affordably, which is why our government will continue to work with all partners to boost the supply of affordable housing in Burnaby, Lower Mainland, and throughout the province.”
Tikva Housing, an experienced non-profit housing provider, owns and operates the homes. With this opening, Tikva’s portfolio has increased to 168 units in seven housing developments, expanding Tikva’s operations to Burnaby.
“In these times of high real estate values and high interest rates, Tikva is grateful to be able to partner with Polygon Homes and BC Housing to produce affordable housing for families with low and moderate incomes. We need many more partnerships like this,” said Alice Sundberg, Director of Housing Development Tikva Housing.
Monthly rents for the 20 homes range between $375 for a studio unit to $1,700 for a two-bedroom unit.
“This new development marks the first housing collaboration between our organization and BC Housing,” said Anat Gogo, Executive Director, Tikva Housing. “The support of the Province and the financial assistance from BC Housing, along with our partnership with Polygon, allowed Tikva Housing to acquire 20 new affordable homes in south Burnaby. We are pleased to be able to ease the burden on individuals and families struggling with housing insecurity.”
Each home at Susana Cogan Place is equipped with a range, fridge, dishwasher, washer and dryer. Residents also have access to amenities, including a playground, lobby, lounge and a fitness studio.
“The investments we’ve made as a city into affordable housing are beginning to pay off in Burnaby and it’s encouraging to see tenants moving into their affordable units at Susana Cogan Place,” said Mike Hurley, Mayor of Burnaby. “These units are priced well below the market rate, something that is only possible thanks to the close collaboration between BC Housing, the Province and the City of Burnaby.”
The Province, through BC Housing, provided approximately $3 million to the project through the Building BC: Community Housing Fund and will provide an annual operating subsidy of approximately $74,000.
About Tikva
Since 2006, Tikva’s mission has been to provide access to innovative and affordable housing solutions, primarily for Jewish individuals and families. Tikva operates 168 units in seven housing communities in Burnaby, Vancouver and Richmond and a rent relief program that provides temporary financial assistance to private market renters. We offer affordable rental housing to a range of low and moderate-income households. Tikva is guided by Tikkun Olam – a commitment to repairing the world – we can and will make a difference…one home at a time. Learn more at: tikvahousing.org.
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