HOUSING AGREEMENT (AFFORDABLE HOUSING) BYLAW NO. 10548, HOUSING AGREEMENT (MODERATE MARKET RENTAL) BYLAW NO. 10549 AND HOUSING AGREEMENT (MARKET RENTAL) BYLAW NO. 10550 TO PERMIT THE CITY OF RICHMOND TO SECURE LOW- END MARKET RENTAL (LEMR) UNITS, MODERATE MARKET RENTAL UNITS AND MARKET RENTAL UNITS AT 6071 AZURE ROAD

May 7, 2024 - 3 - 7611426 The OCP encourages that existing rental units be replaced with affordable housing units at a ratio of 1:1. The proposal upholds this policy objective as the 50 existing rental units will be replaced with 50 LEMR units. At present, the housing development includes six units occupied by clients of Vancouver Coastal Health (VCH). The Housing Agreement used to secure the LEMR units will ensure that six units in the development continue to be available to VCH clients. Table 1 provides a summary of the unit mix, minimum unit sizes, proportion of family-friendly units, and units with Basic Universal Housing (BUH) design making up the overall development. Table 1: Low- End Market Rental Units, Moderate Market Rental Units and Market Rental Units Mix Unit Type Low-End Market Rental Units Moderate Market Rental Units Market Rental Units Units Min. Size (ft2) Family Friendly Basic Universal Housing (BUH) Units Family- Friendly Basic Universal Housing (BUH) Units Family- Friendly Basic Universal Housing (BUH) Studio 0 400 N/A - 24 N/A 22% 19 N/A 11% 1- Bedroom 4 535 N/A 8% 62 N/A 56% 69 N/A 41% 2- Bedroom 14 741 28% 28% 20 18% 18% 49 29% 29% 3- Bedroom 29 980 58% 58% 4 4% 4% 33 19% 19% 4- Bedroom 3 1,200 6% 6% 0 - - 0 - - Total 50 - 92% 100% 110 22% 100% 170 48% 100%

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