Seniors in the Fraser Valley soon will have access to more affordable rental housing, now that construction is underway on a new 64-unit development in the City of Abbotsford.

The affordable rental development, located at 33585 and 33580 Braun Ave., will be operated by Lynnhaven Society and feature two four-storey wood-frame buildings with 32 studio units each.

• The Government of Canada is providing a $20,000 Seed Funding Grant and Proposal Development Funding of $50,000 through Canada Mortgage and Housing Corporation.

• The B.C. government will provide $47,000 and arrange approximately $4 million in long-term financing.

• The City of Abbotsford provided $320,000 in equity.

• The Lynnhaven Society provided the land valued at over $2.7 million and $5,000 in equity.

The new development will replace a 40-unit building for seniors currently operated by Lynnhaven Society on Lynn Avenue. The Braun Avenue site was originally owned by Algra Brothers Developments Ltd. who exchanged ownership of that site for the Society's Lynn Avenue site. Construction is expected to be complete by spring 2014.

Quotes:

Honourable Edward Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway -

''Our Government is proud to deliver on this important project for seniors in our community. We want to improve the quality of life for our seniors by keeping their homes safe and affordable."

Mike de Jong, Minister of Finance and MLA for Abbotsford West -

"The B.C. government is committed to the creation of more affordable housing options for seniors in need, both here in Abbotsford and across the province. We work in partnership with other levels of government and community organizations like the Lynnhaven Society to further our ongoing commitment. When complete, these apartments will make a real difference for Abbotsford seniors who have established roots in the community."

Mayor Bruce Banman, City of Abbotsford -

"The City of Abbotsford is proud to support our local seniors through this project. Seniors will soon have access to more affordable rental options in this community and I would like to congratulate the Lynnhaven Society for their perseverance and hard work on making this project a reality."

Leona Watts, secretary manager, Lynnhaven Society -

"For over 50 years, the Lynnhaven Society has been providing solutions for affordable, independent living for seniors at our Lynn Avenue site in Abbotsford. We are eagerly anticipating the completion of the Braun Avenue development, which will replace our aging units at Lynn Avenue and create even more housing for seniors in need of this type of housing. Thank you to our partners and Algra Bros Developments Ltd. for making this project possible."

Quick Facts:

• Since 2001, the B.C. government has invested $3.2 billion to provide affordable housing for low-income individuals, seniors and families. This year, more than 97,000 B.C. households will benefit from provincial social housing programs and services.

• In 2011-12, the B.C. government invested over $12.4 million to provide subsidized housing and rent supplements for 1,660 Abbotsford households.

• The Families First Agenda for British Columbia provides information about how government supports families throughout the province. It describes a range of established programs and some new ideas to help make life more affordable, support vulnerable families and keep communities safe. To read the agenda, share your ideas or provide feedback, visit: www.FamiliesFirstBC.ca

• Established in 1957, the Lynnhaven Society is a non-profit society dedicated to providing affordable rental housing to seniors in need residing in the Abbotsford area.

Learn More:

Information on the Community Partnership Initiative: http://www.bchousing.org/Initiatives/Financing/CPI

Contacts:

Fergus McCann
BC Housing
778 452-6445

Danielle Millin
City of Abbotsford
604 851-4167