GOVERNMENTS OF CANADA AND BRITISH COLUMBIA TO FINANCE OVER 50 AFFORDABLE SENIORS HOUSING IN KAMLOOPS

Government of Canada Logo (CNW Group/Canada Mortgage and Housing Corporation)

The Province of British Columbia Logo (CNW Group/Canada Mortgage and Housing Corporation)

KAMLOOPS, BC, May 11, 2022 /CNW/ - Every Canadian deserves a safe and affordable place to call home. Affordable housing is key to Canada's pandemic recovery, including in Kamloops.

Today, the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, and David Eby, Attorney General and Minister Responsible for Housing, announced a partnership with Oncore Seniors Society to finance a seniors rental complex in Kamloops, preserving 53 units of affordable rental housing for seniors.  

BC Housing is providing approximately $11.4 million to the Oncore Seniors Society to finance the purchase of the five-storey Silvercrest Suites building located at 154 Vernon Avenue, including $830,000 through the Federal Bilateral BC Priorities Housing Initiative. By assisting with the purchase, BC Housing is ensuring that the building continues to provide affordable housing to independent seniors and is not sold to a private developer, potentially putting seniors at risk of higher rents or losing their homes to redevelopment.

Oncore Seniors Society has assumed ownership and operation of the building. Current tenants will not be displaced by the acquisition and monthly rents will remain the same.

Quotes:

"Every Canadian deserves a safe and affordable place to call home. Thanks to this investment, 53 seniors in Kamloops will now be able to keep their homes and remain in the community close to family and friends. Across the country we are working to find solutions to help support our most vulnerable. This is one of the ways our National Housing Strategy continues to make sure no one is left behind." – The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion

"By helping facilitate the purchase of this apartment building, we are making sure that seniors in Kamloops continue to have access to rental homes they can afford. Our government will continue to explore avenues, like BC Housing's HousingHub, to give seniors and people in B.C. the security and peace of mind that comes with having an affordable place to call home." – David Eby, Attorney General and Minister Responsible for Housing

"Our passion is to develop engaged communities that offer housing, services and activities that make a positive difference on the quality of life of our residents. Through the tremendous support of BC Housing and CMHC, we are able to realize vision. We are proud to continue providing affordable housing and other services to enhance the living experience for the residents at Silvercrest Suites." – Mona Murray, Oncore Seniors Society Chairperson

Quick facts:

• Funding is being provided through the HousingHub, a BC Housing program that works with communities and non-profit and private-sector developers to increase affordable rental housing and home ownership options for middle-income British Columbians. It also provides developers with housing expertise and collaboration on projects and helps create housing through new construction or by redeveloping existing sites.
• Canada's National Housing Strategy (NHS) is a 10-year, $72+ billion plan that will give more Canadians a place to call home.
• The NHS has built up to now over 112,000 new units, repaired nearly 330,000 more.

Associated links:

• As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC's aim is that by 2030, everyone in Canada has a home they can afford, and that meets their needs. For more information, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
• To find out more about the National Housing Strategy, visit: www.placetocallhome.ca.
• For more information about HousingHub, visit: https://news.gov.bc.ca/releases/2021AG0025-000720.
• A map showing the location of all announced provincially funded housing projects in B.C. is available online at: https://www.bchousing.org/homes-for-BC.

SOURCE Canada Mortgage and Housing Corporation

Arevig Afarian, Office of the Minister for Housing and Diversity and Inclusion, [email protected]; Media Relations, Canada Mortgage and Housing Corporation, [email protected]; Media Relations, Office of the Attorney General and Ministry Responsible for Housing (BC), 778 678-1572; Media Relations, BC Housing, [email protected]