New Affordable Homes for People in Kelowna

KELOWNA, BC, Jan. 30, 2020 /CNW/ - The Province is delivering close to 250 new affordable rental homes for people in Kelowna region as construction begins on two rental developments and families move into a newly completed townhome complex.

Construction has started on a four-storey building at 1060 Cawston Ave. that will provide 40 affordable rental homes for low to- middle-income individuals, couples, families and women and children. Project partners include the Province, City of Kelowna and NOW Canada Society. The Government of Canada, through the National Housing Strategy (NHS) is providing partial funding. The NHS prioritizes the most vulnerable Canadians including women and children fleeing family violence, Indigenous peoples, seniors, people with disabilities, those dealing with mental health and addiction issues, veterans and young adults. Monthly rents are projected to range from $375 for a studio to approximately $1,835 for a three-bedroom rental.

Work is also underway on The Carrington, which will provide 186 new rentals for people with middle incomes. The Province, through BC Housing's HousingHub, is partnering with Highstreet Ventures to deliver net-zero energy ready homes for middle-income people making between $50,000 and $100,000 each year. Projected monthly rents for the studio, one- and two-bedroom homes range from approximately $1,210 to $1,590. Located at 2200 Majoros Rd. in West Kelowna, the development will consist of three four-storey apartment buildings.

The Province has also partnered with the City of Kelowna and the Society of Hope to build 21 affordable rental homes at 165 Celano Cres. Families moved into their new homes in November 2019 and all of the homes are fully occupied. Monthly rents for the development, named Providence Boulevard, are $915 for a two-bedroom townhome and $1,100 for a three-bedroom townhome.

These projects are part of the more than 22,000 new homes, including nearly 1,200 in Kelowna, that are complete or underway around the province as part of the Homes for B.C. housing plan.

Delivering affordable housing is a shared priority between government and the B.C. Green Party caucus and is part of the Confidence and Supply Agreement.

Quotes:

"Through the National Housing Co-Investment Fund, our government is investing in affordable housing here in Kelowna and across Canada to help create jobs and improve quality of life for those who need it most. NOW Canada Society's project at 1060 Cawston will also focus on housing for women and their children, which is as a core target group identified by the National Housing Strategy. These 40 new homes will add much needed affordable housing capacity to this community."  ? The Honourable Ahmen Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation 

"People deserve safe and secure homes, but even middle-income people like teachers and small business owners have struggled to find affordable housing in Kelowna. These new homes will mean that people ? from young families to seniors ? can stay in their community, close to their friends and family." ? The Honourable Selina Robinson, Minister of Municipal Affairs and Housing.

"The rental vacancy rate and costs in Kelowna makes it a struggle for many to pay market rents due to supply-and-demand. That's why these developments are so important, adding to the 'missing middle' of housing inventory identified in the City's 2017 Housing Needs Analysis." ? Colin Basran, mayor, City of Kelowna

"NOW Canada is delighted to be partnering with all levels of government to create more affordable housing for Kelowna residents. This is another step forward in addressing the lack of housing for people of low-moderate income in our region." ? Liz Talbott, executive director, NOW Canada Society

"Highstreet is excited to make Step 4 of the Energy Step Code a reality for affordable rentals, 12 years ahead of the provincial requirement. We're demonstrating to the industry that we can build a sustainable community at a reasonable cost of $185 per square foot.  We're pleased to see that the province is supporting affordable housing." ? Scott Butler, president, Highstreet Venture 

"Our society is so pleased to partner with BC Housing and the City of Kelowna to deliver quality affordable housing to working families. This project is an example of how we build stronger communities in Kelowna." ? Luke Stack, executive director, the Society of Hope

Quick facts:

• 1060 Cawston Ave., Kelowna:
• The Government of Canada, through Canada Mortgage and Housing Corporation, is investing $3.9 million under National Housing Co-Investment Fund, an National Housing Strategy initiative
• The Province provided $4.8 million to NOW Canada Society to purchase the land. The Province is also providing $4 million from the Community Housing Fund, construction financing of $8.6 million and will provide estimated annual operating funding of approximately $204,000.
• The City of Kelowna will contribute development cost charges reductions of approximately $33,000.
• The Carrington, 2200 Majoros Rd., West Kelowna:
• The Province, through BC Housing's Housing Hub, is providing $39 million in construction financing to Highstreet Ventures
• Providence Boulevard, 165 Celano Cres., Kelowna:
• The Province provided a grant of $4.7 million and construction financing of $4 million.
• The City of Kelowna provided the land valued at $750,000.
• The Government of Canada is currently rolling out its National Housing Strategy (NHS), an ambitious 10-year, $55 billion plan that will create 125,000 new housing units and lift 530,000 families out of housing need, as well as repair and renew more than 300,000 housing units and reduce chronic homelessness by 50 percent.
• Nearly 1,200 new homes are completed or underway in Kelowna because of provincial investments:
• Community Housing Fund: 73 affordable rental homes for individuals, families and seniors with low, moderate and middle incomes. Indigenous Housing Fund: 66 affordable rental homes for Indigenous peoples (Kelowna and Westbank).
• Women's Transition Housing Fund: Approximately 48 units of second-stage and permanent affordable housing.
• Supportive Housing Fund: 49 supportive homes for people experiencing homelessness.
• Rapid Response to Homelessness program: 147 supportive homes for people experiencing homelessness.
• HousingHub: 566 rental homes for people with middle incomes.
• Deepening Affordability Fund: 89 affordable rental homes for families.
• Student Housing: 220 homes (UBC Okanagan).

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.  

To learn about the steps the Province is taking to tackle the housing crisis and deliver affordable homes for British Columbians, visit: https://workingforyou.gov.bc.ca/

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

SOURCE Canada Mortgage and Housing Corporation