Cost of Metro Vancouver rental housing projects nearly doubles before construction begins

The cost of two affordable rental developments in Metro Vancouver, the Connection and Steller projects, has nearly doubled to $121 million and $94 million respectively, due to rising construction costs, increased parking area, and childcare facility expansion. The additional funding will be sourced from Metro Vancouver reserves, mortgages, construction finances, and grants. The City of Burnaby is also experiencing similar cost increases.

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