Twenty-five families, seniors, and individuals will continue to stay in their affordable homes with housing protected by the Province and B.C.’s Rental Protection Fund (RPF).

“The acquisition of 25 homes provides much-needed support for people in Kamloops who are struggling to find affordable housing when they need it,” said Ravi Kahlon, Minister of Housing and Municipal Affairs. “Protecting existing affordable rental housing is an important way we are providing stability to people faced with a global housing-affordability crisis and rising costs. This is a step in the right direction when it comes to making progress for renters.”

With contributions from the fund, Connective Support Society Kamloops has purchased the 25-unit Riverside Gardens property at 139 Tranquille Rd. The acquisition protects the long-term affordability of the homes and ensures tenants will continue to have reliable, affordable housing at that location. 

“Connective is proud to be the new owner of Riverside Gardens and would like to thank and commend the B.C. government and the RPF for working rapidly and diligently in addressing the housing crisis through innovative programs,” said Lindsay Lord, CEO of Connective Kamloops. “Connective remains committed to the development, acquisition and protection of affordable housing for our community.”

Riverside Gardens has a mix of studio, one-bedroom, and two-bedroom homes that are affordable and well-maintained, with rents more than 40% lower than market rates in Kamloops. Homes on the property range from approximately $800 a month for a studio unit to approximately $1,235 a month for a two-bedroom unit, on average. The property is located close to transit, parks, child care and community centres.

The B.C. Rental Protection Fund provided $2.8 million in capital contributions to purchase the property and ensure rents remain affordable for residents, as well as $230,000 in renewal grants to fund building improvements that will ensure Riverside Gardens remains in good condition.

“Riverside Gardens shows what’s possible when community-based organizations take the lead in preserving the homes people already rely on,” said Katie Maslechko, CEO of the Rental Protection Fund. “By keeping this housing in community hands, Connective Kamloops is not only protecting affordability, they’re helping to ensure that renters have a lasting place in the neighbourhoods they call home. It’s a powerful example of how locally driven solutions can shape a more secure and inclusive future.” 

The B.C. Rental Protection Fund provides one-time capital contributions to non-profit housing organizations so they can purchase existing affordable rental buildings and co-operatives, protecting the people living there, safeguarding the units and keeping those units as affordable, long-term housing.

The fund is part of a $19-billion housing investment by the B.C. government. Since 2017, the Province has nearly 92,000 homes delivered or underway, including more than 2,100 homes in Kamloops.

Learn More:

For more information about the Rental Protection Fund, visit: https://rentalprotectionfund.ca

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