Burnaby Housing Projects Cost $200M, Raising Monetary Concerns
(Image courtesy of Metro Vancouver)
Last month, Metro Vancouver announced that it had started construction on building 296 non-market rental homes in Burnaby, an initiative aimed at alleviating the Vancouver housing crisis. However, it is plagued with fears of overspending.
Projects Were Previously Budgeted as Cheaper
The announcement detailed two projects, The Steller, located at 7388 Southwynde Avenue in Burnaby, and The Connection, located at 7730 6th Street, also in Burnaby. The Steller will provide 122 units as well as 37 childcare spaces, and The Connection will provide 174 units and eight childcare centres. Metro Vancouver's announcement last month indicated that the cost for these projects would be a combined $72 million. The specific allocation was $30 million to The Steller and $42 million to The Connection. However, a motion from Metro Vancouver’s Regional District Housing Committee in February 2024 said that the project's costs had increased from $109 million to $215 million. The $215 million figure was not mentioned in the May 2025 press release. The $215 million figure breaks down a total cost of $93.9 million for The Stellar and $120.8 million for The Connection. Coastal Front reached out to Metro Vancouver, and a representative confirmed the $215 million construction cost.
Using the $215 million number, the construction cost per unit breaks down to $769,672 per unit for The Steller and $694,253 per unit for The Connection, a dramatically high amount for the project.
Metro Vancouver Behind Other Canadian Cities
Compared to other Canadian cities, the two projects are an outlier by a large amount. In Calgary, the Silvera for Seniors project, which aims to provide 47 affordable units to senior citizens, costs $297,447 per unit to the government. In Regina, investment from all three levels of government to build the Horse Dance Lodge was made at $333,552 per unit. In Quebec, it will cost $303 million from the federal, provincial, and municipal governments to build 889 units in Montréal, which translates to a cost of $340,832 per unit.
Canadians Demand Action
With the cost of living continuing to be an issue for Canadians, particularly in the Lower Mainland, it makes sense to increase the supply of housing. However, it remains to be seen if Metro Vancouver can complete these projects on a cost-effective basis upon reviewing the numbers.
