The University Community on Campus – UBC’s Housing Action Plan provides a range of rental housing options to meet the needs of staff who wish to live on campus.
With up to 2/3 of new rental housing stock on campus available for faculty and staff, including a pilot non-profit rental project intended for staff, UBC is the only employer in Lower Mainland providing a significant amount of restricted rental housing for its employees. As an employer who recruits its staff locally, providing employee housing is a demonstration of how UBC is addressing housing affordability issues in Metro Vancouver.
The housing program options in the Plan available to staff include the following:
Restricted Rental Housing
UBC will continue to offer restricted rental housing for faculty, staff and post-doctoral fellows on campus, with up to 2/3 of new rental housing built on campus restricted to faculty and staff, making UBC a leader in employment and housing policy.
Rents for restricted rental units will reflect costs and expenses and are anticipated to be approximately 25% below average rates charged for unrestricted housing on Vancouver’s west side.
Non-profit Restricted Rental Pilot Project for Staff
UBC will be developing a non-profit restricted rental pilot project of up to 100 units targeted to staff with an annual household income of less than $64,000.
Rents would be offered at a rate to ensure housing remains affordable, which is commonly defined as costing no more than 30% of a household’s gross annual income.
UBC and UBC Properties Trust will begin working on developing this pilot project for Board review and approval as soon as possible. It is anticipated that this work will be completed by summer, 2013.
Preferential Access to Market Leasehold Units
To improve opportunities for UBC faculty and staff to purchase market leasehold units on campus, UBC, working with UBC Properties Trust, will provide preferential and early access for faculty and staff to purchase new units before they are released for sale to the general public.
Preferential access to new market leasehold units is expected to be in place before the end of 2012.
Note that this is not a financial benefit.