Affordable Seniors Housing project at 4500 Ospika Boulevard up for Prince George City Council approval on April 24, 2023
PRINCE GEORGE, BC, April 19, 2023 /CNW/ - Public support from the citizens of Prince George is sought for the Seniors Housing project at 4500 Ospika Boulevard. The Developer is looking to correct misconceptions after multiple misleading stories in local media. Some facts concerning the project are as follows:
- The original price for the land was negotiated on October 21, 2019 ($500,000). At the time, the only valuation available was the 2018 tax assessment ($435,000).
- The current tax assessed value is $595,000.
- Student housing was originally proposed but construction cost escalations from 2019 to 2023 made the student housing option unfeasible. The original design would cost nearly twice what the end-product would be worth.
- Given the current need for Seniors Housing in Prince George, City Staff endorsed our change of use in May 2022 and fully recommended approval for our project in Feb 2023.
- The proposed project is AFFORDABLE Seniors Housing, and we estimate will have the following add-on benefits:
- 27 full time job equivalents.
- Contributing in-excess of $1,250,000 into the local economy annually.
- Estimated 3,200 person months would be required for construction and be completed primarily by local labor.
- Estimated $19,000,000 + of construction work for local Contractors and Consultants.
- Estimated $600,000 in annual tax revenues being contributed to the City of Prince George.
Our founder's family resides in PG and has roots extending more than 50 years in the city. She was born at PGRH, raised, and educated in PG. After graduating from UNBC, she began training in the field of elder care. In 2022 she watched her own grandmother stay in a hospital bed for months and then pass away in UHNBC awaiting a care facility bed that never came available. Our organization strongly feels that seniors housing at all levels is sorely needed in Prince George.
While student housing was economically unfeasible, our organization can provide much needed affordable seniors housing. We request that the public support our project and help to demonstrate that Prince George is open for business, wants investment, and supports its residents and seniors in need of housing.
We would like to thank our suppliers and trades for support to date and no matter the outcome, we appreciate the opportunity to do business in Prince George.
Sincerely,
The HUB Collection Ltd
SOURCE The HUB Collection Ltd
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