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The City of Vancouver plans to build 400 new affordable homes — from SROS to three-bedroom family units — in four city-owned lots, in a bid to help stem the housing “crisis” gripping the city.

Mayor Gregor Robertson said the sites, worth $50 million, are the first four of 20 sites offered to senior levels of government to construct affordable homes.

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“Finding quality, affordable rental homes in Vancouver — especially for people on low and average incomes — remains a significant challenge as the vacancy rate hovers near zero,” Robertson said in announcing the new units. “At City Hall we’ll keep doing everything we can to tackle our housing affordability crisis head on, and pursue all options and tools available to build more rental housing.”

Robertson noted the city is moving ahead with the projects after securing development partners, but still requires funding contributions from the provincial and federal governments to keep prices affordable.