The governments of Canada and British Columbia, along with community partners, officially opened Kiwanis Van Horne today, a new rental housing development for seniors in Penticton.

"I am delighted to see that construction is complete on this project," said Dan Albas, Member of Parliament for Okanagan-Coquihalla, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC). "The opening of Kiwanis Van Horne brings more affordable housing to Penticton, allowing independent seniors and people with disabilities to remain in the community, close to family and friends."

"This is an important project for Penticton Seniors and will make a real difference for those seniors most in need," said Bill Barisoff, Speaker and MLA for Penticton. "I would also like to recognize the volunteer efforts of the Penticton Kiwanis Housing Society for having the perseverance to see this important project through."

Through an amendment to the Canada-British Columbia Affordable Housing Agreement, the federal and provincial governments contributed a combined total of nearly $3.3 million for 22 Seniors' Rental Housing (SRH) units. Penticton Kiwanis Housing Society (PKHS), who operate and manage the building, provided the land equity valued at approximately $1.1 million, and approximately $1 million in cash equity.

"For over 50 years, our society has been committed to providing seniors with more affordable rental housing in the Penticton community," said Ernst Schneider, finance officer, Penticton Kiwanis Housing Society. "We are continuing this commitment today, with the opening of Kiwanis Van Horne. We would like to thank our government partners for their support and belief in our vision for the development of this project."

The Seniors' Rental Housing initiative is a result of a $365-million joint investment under an amendment to the Canada-British Columbia Affordable Housing Agreement, which includes funding through Canada's Economic Action Plan and by the Government of British Columbia. This initiative, first 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 are providing matching contributions of $61.79 million.

Canada's Economic Action Plan built 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 provided $400 million, over two years, to build new rental housing for low-income seniors. Overall, the Economic Action Plan included $2 billion for the construction of new and the renovation of existing social housing, plus $2 billion in low-cost loans to municipalities for housing-related infrastructure.

A new agreement signed recently by both orders of government implements B.C.'s allocation of the remaining three years of the $1.9 billion, which amounts to a further $90 million in federal funding for British Columbians in housing need. The Province will contribute another$90 million in matching funds for a combined investment of $180 million to support housing programs and services that help B.C. residents access safe, affordable housing.

The Province of British Columbia's $14-billion capital infrastructure program is creating up to 88,000 jobs, building vital public infrastructure and stimulating local economies throughout the province.

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

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. To find out more, visit: www.bchousing.org

A backgrounder follows.

Media Contacts:

Andrea Scott
CMHC BC Region
604 737-4064

Rhonda Nguyen
BC Housing
604 439-4740
604 374-8301

Alyson Queen
Office of Minister Finley
819 994-2482 

BACKGROUNDER

Sept. 2, 2011 Ministry of Energy and Mines

and Minister Responsible for Housing

Canada Mortgage and Housing Corporation

Kiwanis Van Horne

Kiwanis Van Horne, located at 150 Van Horne St. in Penticton, is a four-storey wood-frame building providing a mix of 58 one- and two-bedroom units, including:

• 22 one-bedroom Seniors' Rental Housing units for seniors and persons with disabilities.
• 18 one-bedroom, low-end-of-market rental units for seniors.
• 18 two-bedroom, low-end-of-market rental units for seniors.

Partners and funding:

The total cost of this development is approximately $9,080,000:

• The Government of Canada provided $1,639,000 through Canada's Economic Action Plan.
• The Province provided a $1,639,000 grant and construction financing of over $3,680,000.
• Penticton Kiwanis Housing Society provided the land valued at approximately $1,120,000 and approximately $1,000,000 in cash equity.

Penticton Kiwanis Housing Society

Penticton Kiwanis Housing Society (PKHS) was incorporated in 1958 with the mission to provide affordable housing for seniors and is an independent relative to the Kiwanis Club of Penticton. PKHS is operating and managing the rental apartments, including the 22 SRH units.

Media Contacts:

Andrea Scott
CMHC BC Region
604 737-4064

Rhonda Nguyen
BC Housing
604 439-4740
604 374-8301

Alyson Queen
Office of Minister Finley
819 994-2482