August 28, 2010

KELOWNA, B.C. – The governments of Canada and British Columbia, along with community partners, gathered today to announce the construction of 32 new housing developments, creating 404 units for low-income seniors and people with disabilities across British Columbia. The announcement took place at the official groundbreaking for 10 new seniors’ apartments at Cedar Court.

“The Government of Canada is helping Canadian seniors and people with disabilities during these tough economic times by providing close to $29 million for these 32 projects through Canada’s Economic Action Plan,” said the Honourable Stockwell Day, President of the Treasury Board and Minister for the Asia-Pacific Gateway, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC). “Across the province, this achievement gives hope to people who need quality affordable housing that meets their needs, while at the same time, creating local jobs.”

“The Province is investing over $33 million to increase the supply of affordable rental housing in the British Columbia for low-income seniors and people with disabilities, and to stimulate local economies by creating jobs,” said Rich Coleman, Minister of Housing and Social Development. “This investment is a definitive example of our provincial commitment to providing more affordable housing solutions for seniors across B.C.”

Through an amendment to the Canada-British Columbia Affordable Housing Initiative Agreement, the federal and provincial governments are contributing a combined total of over $62 million for 404 affordable Seniors’ Rental Housing (SRH) apartments. Municipalities and community partners contributed a total of approximately $6.2 million to the SRH developments in their areas through a combination of property tax exemptions, waived developmental costs charges, land equity and/or capital cost contributions.

“Lake Country has a great community of seniors with an active and engaging lifestyle,” said Mayor James Baker, District of Lake Country. “Cedar Court offers these seniors an excellent and affordable housing option so that they can continue to reside in the community they are proud to call home.”

The Society of Hope will manage and operate the 10 SRH apartments. Established in 1989, The Society of Hope is a non-profit organization committed to providing quality, affordable housing to low-income residents in the Central Okanagan.

“Lake Country seniors will soon have greater accessibility to more quality, affordable rental homes in their community,” said Lorne Gerber, President, The Society of H.O.P.E. “We are pleased to partner with all levels of government to make this vital housing project possible.”

The Seniors’ Rental Housing (SRH) initiative is a result of a $365-million joint investment under an amendment to the Canada-British Columbia Affordable Housing Initiative Agreement, which includes funding through Canada’s Economic Action Plan and by the Government of British Columbia.  This initiative, initially announced by the two levels of government on April 8, 2009, will provide $123.5 million, including $104 million for seniors and $19.5 million for persons with disabilities, to develop approximately 1,300 new affordable rental housing units, which will help to stimulate local economies in smaller communities across B.C. Under terms of the agreement, the provincial and federal governments will provide matching contributions of $61.79 million.

Canada’s Economic Action Plan builds on the Government of Canada’s commitment in 2008 of more than $1.9 billion, over five years, to improve and build new affordable housing and help the homeless. It provides $400 million, over two years, to build new rental housing for low-income seniors and $75 million, over two years, for housing for persons with disabilities. Overall, the Economic Action Plan includes $2 billion for new and existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure.

The Province of British Columbia $14-billion capital infrastructure program is creating up to 88,000 jobs, helping to build vital public infrastructure in every region of the province and stimulating local economies across B.C.

For more information on this and other measures in Canada’s Economic Action Plan, visit www.actionplan.gc.ca.  To find out how CMHC is working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc.ca/housingactionplan.

Through Housing Matters BC, the Province is addressing a range of housing needs, from homelessness to affordable rental housing and homeownership.  In 2010-11, the province will invest over $562 million to provide affordable housing and fight homelessness – more than four times as much as in 2001.  To find out more about affordable housing in B.C., visit www.bchousing.org.



BACKGROUNDER

Cedar Court:
The Society of Hope’s Cedar Court is a one-storey modular housing development located at 10230 Bottom Wood Lake Road in Lake Country and will provide 10 apartments for low-income seniors and people with disabilities in the community.

Construction is anticipated to be complete in winter 2011.

Partners and Funding:
The estimated total capital cost of 32 Seniors’ Rental Housing (SRH) developments in 30 communities across the Province, totalling approximately 404 units, is over $68 million.

The total capital cost of Cedar Court is approximately $1.74 million for the 10 SRH units.

• The Government of Canada will provide $742,500 through a Federal Economic Stimulus Grant.
• The Province of British Columbia will provide $772,953, through a Provincial Infrastructure Grant for Seniors and Persons with Disabilities
• The Society of Hope provided the land equity of $223,700 for this project.

The Society of Hope:
The Society of Hope is a registered non-profit organization that was established in 1989 with the mandate to provide quality, affordable housing and support for Central Okanagan residents in need.



SENIORS’ RENTAL HOUSING DEVELOPMENTS IN BC