The $38-million development at 215 W. 2nd Ave. in Vancouver will offer 147 studio and one-bedroom apartments with supports to help individuals who are homeless or at risk of homelessness stabilize, regain their independence and move into permanent housing.

This is the eighth new supportive housing development to get underway - out of 14 in total - through the Province's partnership with the city that will see around 1,570 new supportive - units built in Vancouver. Streetohome joined the partnership with funding for eight of the developments.

A number of organizations are making funding contributions:

• The Province will provide construction mortgaging of $28,274,967 as well as operational funding once the building is complete.
• The City of Vancouver will provide land equity valued at $5,157,000 and municipal and regional levy reductions totalling $2,342,344.
• Streetohome Foundation has committed a $2,940,000 grant;
• Katherine Sanford Housing Society (KSHS) will be paying a mortgage of $497,573 for their office space that will be included in the building.
• Vancouver Coastal Health will provide operational funding for support services that will be targeted to people in early recovery from substance abuse.

KSHS will manage and operate the housing component and has partnered with RainCity Housing and Support Society, which will provide support services for residents of the building.

The building is expected to be complete in early 2013.

Quotes:

"Streetohome Foundation is committed to solving homelessness in Vancouver. We believe that it takes an entire community to make real change around this issue. Our partnership with the City and Province in creating almost 1,000 new housing units will provide much-needed new housing for those who are most vulnerable."

Lorna Howes, director, Mental Health and Addiction, Vancouver Coastal Health -
"Vancouver Coastal Health understands the formula to ensure the greatest success for people who are dealing with homelessness, with mental-health issues or substance addictions - it is the combination of onsite support services in safe, affordable housing. We look forward to seeing this building complete and working with both societies to provide onsite services. "

Bonnie Rice, executive director, Katherine Sanford Housing Society -
"This new development is the largest of the 20 projects our society has undertaken since we began in 1989. This project will have a positive and lasting impact on the lives of those living there and on the community. Reducing homelessness provides a benefit to all of our citizens. We value the support from all our partners including the Province of B.C., the City of Vancouver, Streetohome Foundation and RainCity Housing and Support Society. By increasing the availability of secure, stable, supportive housing, the society believes those in need are more likely to recover and reach their potential."

Mark Smith, executive director, RainCity Housing and Support Society -
"Our goal is to provide a wide range of supports that assist people in achieving stability in their lives. By providing housing and support in a client-centred environment, RainCity Housing builds relationships with clients and creates an environment of trust and opportunities for change."

Quick Facts:

• Under the partnership to build the 1,570 new units of supportive housing in Vancouver, the Province is investing more than $300 million and the City contributed the 14 parcels of land that are valued at $64 million. Streetohome Foundation joined in May 2010 and committed to fundraise $20 million to build eight of the developments.
• Over the last decade, the Province has invested $2.8 billion to provide affordable housing for low income individuals, seniors and families. This year, more than 93,000 B.C. households will benefit from provincial social housing programs and services.
• In Vancouver, the government will invest approximately $105 million this year to provide subsidized housing and rent supplements for more than 26,000 low-income individuals, seniors and families.

Learn More:

• To learn more about the Streetohome Foundation, please visit: www.streetohome.org
• To learn more about Katherine Sanford Housing Society, please visit: www.kshs.ca
• To learn more about programs and services offer by RainCity Housing and Support Society, please visit: www.raincityhousing.org
• For information on provincial housing programs: www.bchousing.org

Media contacts:

Michelle Frilund
Communications Specialist
BC Housing
604 456-8895
604 318-4419

Nicole Adams
Director, Communications and Community Relations
Streetohome Foundation
604 629-2711

City of Vancouver
Corporate Communications
604 871-6336
media@vancouver.ca

Bill Briscall
Communications Manager
RainCity Housing and Support Society
604 671-2169