Vancouver has spent roughly $175 million on social and affordable housing since 2002, according to a city memo obtained by Metro yesterday.
The number, an estimate, is based on the value of land provided by the city to build social housing units and monies spent to renovate single-room occupancy hotels.
It also includes Vancouver’s Olympic village and $1 million a year in property tax exemptions on 12 sites that will be developed with the province through a social housing partnership.
"We wanted to quantify the city’s commitment to an area that is not really in our mandate," said Vancouver Mayor Sam Sullivan.
The estimate will be circulated to the regional district and other Lower Mainland municipalities with a request that they do the same.
"Vancouver has certainly taken the lion’s share of the effort. … We’re hoping other municipalities around the region will also get involved in social and supportive housing in a bigger way."
Sullivan, co-chair of a Federation of Canadian Municipalities working group on homelessness, will unveil the organization’s national action plan on housing in Vancouver this morning.
While he would not comment specifically on today’s report, Sullivan did say that he hopes that it will impact the federal government’s budget discussions.