KELOWNA, BC, January 30, 2020 / CNW / – The province is delivering nearly 250 new affordable rental homes to people in Kelowna Region as the start of construction for two rental estates and families move into a newly completed townhouse complex.

With the construction of a four-story building at 1060 Cawston Ave. has started offering 40 affordable rental apartments for low to middle income people, couples, families, women and children. Project partners are the province, City of Kelowna and NOW Canada Society. The government of Canadaprovides partial funding through the National Housing Strategy (NHS). The NHS is prioritizing the most vulnerable Canadians, including women and children fleeing family violence, indigenous peoples, seniors, people with disabilities, people with mental health and addiction problems, veterans and young adults. Monthly rents are expected to be in the range of $ 375 for a studio roughly $ 1,835 for a three bedroom rental.

Work is also underway on The Carrington, which will offer 186 new rental homes for middle-income people. The province works with Highstreet Ventures through BC Housing’s HousingHub to provide net-zero energy-enabled homes for middle-income people who earn in between $ 50,000 and $ 100,000 each year. The projected monthly rents for the studio, one and two bedroom houses are between approximately $ 1,210 to $ 1,590. Located at 2200 Majoros Rd. Im West KelownaThe development will consist of three four-story apartment buildings.

The province has also dealt with the City of Kelowna and the Society of Hope are building 21 affordable rental homes at 165 Celano Cres. Families moved into their new homes November 2019 and all the houses are full. The monthly rents for the development, called Providence Boulevard, are $ 915 for a two bedroom townhouse and $ 1,100 for a three bedroom townhouse.

These projects are part of more than 22,000 new homes, including nearly 1,200 in Kelownacomplete or in progress across the province as part of the Homes for BC housing plan.

Providing affordable housing is a shared priority between the British Columbia government and the Caucus of the Greens and is part of the Trust and Delivery Agreement.

Quotes:

“Our government is investing in affordable housing here through the National Housing Co-Investment Fund Kelowna and over Canada to create jobs and improve the quality of life for those who need them most. The NOW Canada Society project at 1060 Cawston will also focus on the housing of women and their children, which is a key target group in the National Housing Strategy. These 40 new homes will add much-needed affordable housing to this community. “- The Honorable Ahmen Hussen, Minister for Families, Children and Social Development and Minister in charge of Canada Mortgage and Housing Corporation

“People deserve safe homes, but even middle-income people like teachers and small business owners struggle to find affordable housing Kelowna. These new homes will mean people – from young families to the elderly – can stay in their community, close to their friends and family. “- The Honorable Selina Robinson, Minister for Community Affairs and Housing.

“The rental vacancy rate and the costs in Kelowna For many, it is difficult to pay market rents based on supply and demand. For this reason, these developments are so important that they contribute to the “missing middle” of the housing stock identified in the city’s 2017 housing needs analysis. “- Colin Basran, Mayor, City of Kelowna

“NOW Canada is excited to work with all levels of government to create more affordable housing for Kelowna Residents. This is another step forward to address the shortage of housing for low to middle income people in our region. “- Liz Talbott, Executive Director of the NOW Canada Society

“Highstreet is excited to implement Step 4 of the Energy Step Code for Affordable Rentals, 12 years ahead of provincial requirements. We are demonstrating to the industry that we can build a sustainable community at a reasonable cost $ 185 Per square foot. We are excited to see the province support affordable housing. “- Scott Butler, President, Highstreet Venture

“Our company is very happy to partner with BC Housing and the City of Kelowna Providing working families with high quality, affordable housing. This project is an example of how we are building stronger communities Kelowna. “- Luke Stack, Executive Director of the Society of Hope

Fast facts:

  • 1060 Cawston Ave., Kelowna::
    • The government of Canadainvests through Canada Mortgage and Housing Corporation $ 3.9 million as part of the National Housing Co-Investment Fund, an initiative of the National Housing Strategy
    • The province provided $ 4.8 million to the NOW Canada Society to buy the land. The province also offers $ 4 million from the Community Housing Fund, construction financing from $ 8.6 million and will provide an estimated annual operational funding of approximately $ 204,000.
    • The City of Kelowna will help reduce development costs by around 30% $ 33,000.
  • The Carrington, 2200 Majoros Rd., West Kelowna::
    • The province delivers through BC Housing’s Housing Hub $ 39 million in mortgage lending to Highstreet Ventures
  • Providence Boulevard, 165 Celano Cres., Kelowna::
    • The province granted a grant of $ 4.7 million and mortgage lending of $ 4 million.
    • The City of Kelowna provided the country is rated at $ 750,000.
  • The government of Canada is currently launching its National Housing Strategy (NHS), an ambitious 10 year old $ 55 billion Plan that creates 125,000 new housing units and relieves 530,000 families of housing needs, repairs and renews more than 300,000 housing units and reduces chronic homelessness by 50 percent.
  • Almost 1,200 new houses are being completed or are in operation Kelowna because of provincial investments:
    • Community Housing Fund: 73 affordable rental apartments for individuals, families and seniors with low, middle and middle income. Indigenous Housing Fund: 66 affordable rental apartments for indigenous peoples (Kelowna and West Bank).
    • Women’s Transition Housing Fund: Approximately 48 second tier housing units and permanent affordable housing.
    • Supportive Housing Fund: 49 supportive homes for people affected by homelessness.
    • Rapid Homelessness Response Program: 147 Support Homes for People Affected by Homelessness.
    • HousingHub: 566 rental apartments for middle-income people.
    • Deepening Affordability Fund: 89 Affordable Family Rentals.
    • Student residence: 220 apartments (UBC Okanagan).

Related links:

How Canada A housing agency, CMHC contributes to the stability of the housing market and financial system, assists Canadians with the housing crisis, and provides unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. The aim of CMHC is to have everyone involved by 2030 Canada has a home they can afford and that suits their needs. For more information, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.

Further information on the National Housing Strategy can be found at www.placetocallhome.ca.

Visit https://workingforyou.gov.bc.ca/ to find out what steps the province is taking to address the housing crisis and provide affordable housing for British Columbians.

A map with the location of all announced provincial funded housing projects in BC is online: https://www.bchousing.org/homes-for-BC

SOURCE Canada mortgage and housing company

For More Information: Media Contacts: Valérie Glazer, Minister’s Office for Families, Children and Social Development, Ottawa, 819-654-5546, [email protected];; Leonard Catling, Canadian Mortgage and Housing Company, Calgary, 604-787-1787, [email protected];; Department of Local Affairs and Housing, Media Relations, 778 584-1255; Laura Mathews, BC Housing, 604 439-8571

similar links

www.cmhc-schl.gc.ca

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