More affordable rental housing for low- to moderate-income families is coming to the Town of Creston as construction is underway for a six-unit townhouse family complex.
The complex, containing four three-bedroom, and two two-bedroom layouts, will be conveniently located near transit, grocery stores, commercial services and a secondary school as well as green spaces. The structure will feature a low-profile design, allowing it to blend seamlessly with the surrounding homes. Construction is scheduled to be completed by late 2015.
- The building, which will be located at 215-25th Ave. South, will be owned and operated by the Creston Valley Community Housing Society.
- The governments of Canada and B.C. provided a combined investment of $400,000 through the Affordable Rental Housing initiative - http://www.bchousing.org/Initiatives/Creating/ARHi under the Canada-B.C. Agreement for Investment in Affordable Housing 2011-2014 - http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2011/2011-07-04-0930.cfm - that was recently extended until 2019 - https://www.cmhc-schl.gc.ca/en/corp/nero/nere/2014/2014-03-04-1530.cfm
- Columbia Basin Trust also contributed $400,000.
- The Government of B.C. arranged approximately $396,000 in long-term financing.
- The Creston Valley Community Housing Society is providing approximately $26,000 of equity.
David Wilks, Member of Parliament for Kootenay - Columbia on behalf of the Honourable Candice Bergen, Minister of State for Social Development —
“Community events are always exciting, but even more so when it’s a groundbreaking! Projects like this bring hope and real solution to families living on low-income. There is no place like home and in the near future, six families will be able to acknowledge this first hand. Our Government is proud of our investment that will help families achieve affordable housing here in Creston.”
Bill Bennett, Minister of Energy and Mines and Minister Responsible for Core Review, MLA for Kootenay East —
“We are seeing a steady increase in the number of young families in the Kootenay region, so we knew we had to start taking proactive steps to respond to these changing demographics. Just yesterday we opened a newly renovated 18-unit apartment complex in Invermere which is also focused on low-to-moderate income families. I am proud of the progress this government has made with putting families first.”
Neil Muth, president and chief executive officer, Columbia Basin Trust —
“This initiative is a key part of improving the well-being of residents in the Columbia Basin. By working alongside the Creston Valley Community Housing Society, in partnership with the federal and provincial governments, we are able to support the community’s efforts to improve housing options for local residents.”
Heather More, president, Creston Valley Family Housing Society —
“This groundbreaking today represents an important step forward in addressing the lack of family-focused affordable housing in the Town of Creston. The families that will live here in the future will have a better chance at engaging their community, and lead more fulfilling lives. I’m honoured to be one of the many people who’ve worked so hard to bring the vision of the Creston Valley Community Housing Society to life.”
Annually, the Government of Canada, through Canada Mortgage and Housing Corporation (CMHC), will invest approximately $2 billion in housing. Of this amount, $1.7 billion will be spent in support of close to 600,000 households living in existing social housing. In British Columbia, this represents an estimated 67,350 households. The remaining funding supports housing-related activities and affordable housing programs. To find out more about how the Government of Canada and CMHC are working to build stronger homes and communities for all Canadians, visit: www.cmhc-schl.gc.ca (cmhc.ca)
This year, more than 98,000 B.C. households will benefit from provincial social housing programs and services. To find out more, visit: www.bchousing.org
Columbia Basin Trust (CBT) delivers economic, social, and environmental benefits to the residents of the Columbia Basin. To learn more about Columbia Basin Trust programs and initiatives, visit: http://www.cbt.org
Formed in 2008, Creston Valley Community Housing Society was created after a community forum identified the shortage of affordable housing as a major problem in Creston. To learn more about the Creston Valley Community Housing Society, visit: http://crestonhousing.com
Follow CMHC on Twitter: @CMHC_ca (twitter.com)
Follow BC Housing on Twitter: @BC_Housing (twitter.com)
Columbia Basin Trust