Lease Extension – Lu'ma Native Housing 1475 Kitchener

Summary

• The City proposes a 5-year lease extension (October 31, 2026 to October 30, 2031) with Lu'ma Native Housing Society for the City-owned land at 1475 Kitchener Street, which hosts a 22-unit affordable housing building constructed in 1981.
• Basic rent for the extension period would be set at $10 for the full five years — well below the estimated market value of approximately $750,000 — constituting a grant under the Vancouver Charter and requiring a two-thirds Council vote.
• The proposed affordability mix is being amended from the previous requirements (50% shelter rate, 50% rent-geared-to-income) to a minimum of 15% of units at shelter rates and the remainder at Low End of Market rents (maximum 85% of average area market rents), to reflect the anticipated loss of approximately $150,000 in annual provincial operating subsidy from AHMA, which expires March 31, 2028.
• Lu'ma is an Indigenous non-profit providing housing and support services to Vancouver's Indigenous community, and currently holds six long-term City land leases; this extension allows continued operation while adjusting financial sustainability terms.
• Staff recommend the $10 rent given that even with the revised affordability mix, the building is projected to enter deficit once AHMA funding expires, with Lu'ma responsible for managing any resulting shortfall.

Vote

Documents

• Report – 1475 Kitchener Street – Lease Extension and Amendment with Lu’ma Native Housing Society