(This story is sponsored by the Aboriginal Land Trust.)
Finding your first home is no easy feat, especially when you are on a budget—like most people living in Vancouver. The long list of non-negotiables that you started with dwindles significantly after learning just how unaffordable the real-estate market is in the city.
But don’t get discouraged as a new development in Strathcona is making homeownership possible for the folks who thought they’d be renting for their entire life. Ch'ich'iyúy (401 Jackson Avenue) offers affordable urban homes with great amenities at prices that leave money in your bank account.
The building was developed by Aboriginal Land Trust and Lu’ma Native Housing Society with the goal of building an inclusive community that celebrates Indigenous Peoples and helps renters purchase a place of their own.
What sets Ch'ich'iyúy apart from other Vancouver developments is its below-market down-payment schedule and monthly payments capped at 30 percent of gross household income. The first-of-its-kind development offers the chance to build equity over time, allowing owners to take savings with them if they sell.
“Housing in Vancouver is notoriously unaffordable. Renters and would-be buyers alike are feeling the stress or making major sacrifices to secure a home and live the lifestyle they want,” shares Claire Marshall, Lu’ma board member.
Studio apartments start at a gross annual household income around $49,000 and two-bedroom homes at $122,000. Pre-sale is available now on brand new studio, loft, and one- and two-bedroom homes within the development.
“The initial response to this development has been amazing and we’ve sold more than 50 percent of the first round of pre-sale homes in just a few months,” says Marshall. “It’s exciting to be offering a first-in-Canada solution to meet affordability and lifestyle needs in one place.”
And it’s a fine place, indeed— Ch'ich'iyúy is pet-friendly and each home features a modern layout, three-piece bathroom with a tub, in-suite laundry, and a dishwasher. The building’s amenities include shared spaces like fire pits and a Coast Salish Longhouse on the rooftop, raised garden beds, a wellness deck, play area, and a sky garden to enjoy while admiring the view.
Plus, Strathcona is one of the most desired neighbourhoods in Vancouver as it’s bright with a community-minded vibe. The development is surrounded by parks, schools, community centres, restaurants, and cafés, all within walking distance.
Because of Ch'ich'iyúy’s location, which is close to major transit routes, residents can reduce their carbon emissions and gas bills by going car-free. Plenty of secure bike parking is available in the building and there are also carshare options nearby for longer trips or when you’re running low on groceries.
The development was named after Ch’ich’iyúy Elxwíkn (Chay-chay-yoy Ull-x-wake-un), the mountain peaks on the North Shore that watch over the traditional territory of the xʷməθkʷəy̓əm (Musqueam), Sḵwx̱wú7mesh (Squamish), and səlilwətaɬ (Tsleil-Waututh) Peoples. To further honour Indigenous Peoples and cultures, the building’s exterior will feature an eye-catching mural by a talented local Indigenous artist.
The first round of available pre-sale homes is now more than 60 percent sold. Explore your ownership options at chichiyuy.ca.More