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People with low and moderate incomes will soon be able to live in a new waterfront community in Vancouver.

The City of Vancouver is planning to build 247 affordable rental homes south of Marine Drive. Formerly known as East Fraserlands, the 53-hectare River District site in the southeast corner of the city will be home to 15,000 residents once it is fully developed.

Through the Vancouver Affordable Housing Agency (VAHA), the city aims to construct three residential buildings in the area.

One is at 3183 Pierview Crescent, with 89 rental homes. A second is planned at 3245 Pierview Crescent, for 51 units, and the third will be located at 3185 Riverwalk Avenue, with 107 homes.

In 2008, city council approved the rezoning of lands in the former industrial district, laying the groundwork for the development of private homes and retail, educational, service, and recreational uses.

Located on the banks of the Fraser River, and extending from Kerr Street on the west to Boundary Road on the east, the former East Fraserlands is envisioned to be a complete community with a range of housing options and amenities. In 2012, the first residents moved in.

VAHA is mandated to develop 2,500 affordable housing units by 2021. On October 17, the development permit board, which is composed of senior city staff, will review the housing agency’s application to build rental homes in the River District.