Non-Profit Housing Developer see Record Demand for Affordable Housing

Burnaby, BC – May 28, 2025 – Catalyst Community Developments Society has seen incredibly fast home leasing at its brand new project at 6889 Royal Oak Ave. in the City of Burnaby, smashing its own expectations. The first residents moved in on February 1, 2025 and less than 4 months later the building has fully leased its 134 units. This pace exceeds Catalyst’s expectations and puts it on the lower end of the average market pace of 90 to 180 days for a similarly sized project.

“Reaching this point so quickly highlights the community’s demand for dignified, affordable housing and the strength of Catalyst’s mission-driven approach,” said Michael J. Ross, Vice President of Property Operations at Catalyst. “We’re proud to offer professionally managed homes that contribute to long-term housing stability in a region where affordability can be increasingly out of reach.”

Ross suspects the quick lease-up of these homes is due to the acute need for affordable homes, the location on Skytrain, and the appeal of thoughtfully designed, income-targeted rental housing.

The six-storey, mixed-use development provides much-needed affordable rental housing in the heart of the Royal Oak Urban Village. The residential component includes a mix of studio, one-, two-, and three-bedroom homes offered through two affordability streams: Below Median Units (BMUs) and Lower End of Market (LEM) units. Priority has been given to Burnaby residents and households impacted by redevelopment, consistent with the City’s Tenant Assistance Policy.

The project also includes six ground-floor commercial units intended to activate the streetscape and bring needed amenities to residents and neighbors alike.

Delivered in partnership with the City of Burnaby, 6889 Royal Oak underscores Catalyst’s commitment to delivering permanently affordable housing secured through long-term covenants that will preserve below-market rents for decades to come.