The Vancouver Resource Society has partnered with the Province, through BC Housing, to purchase four senior housing facilities in Surrey, Kelowna and Nanaimo, preserving a total of 475 residential suites at affordable rental rates.
“Seniors should be able to find a home in their community, close to their friends, families and the services they count on,” said Selina Robinson, Minister of Municipal Affairs and Housing. “We are proud to be partnering with Vancouver Resource Society to provide good, safe and affordable homes for hundreds of seniors.”
The Province provided financing of approximately $147.5 million to the non-profit to purchase the four projects. This means these homes will not be sold into the private market, which would have put seniors at risk of losing their homes to redevelopment or having to pay market-level rents.
“It is very important that we help seniors maintain healthy independence as long as possible,” said Adrian Dix, Minister of Health. “We know many seniors in British Columbia may have housing affordability challenges. This seniors’ housing announcement will help more seniors on fixed incomes continue to live independently with dignity.”
Through the HousingHub, the Building BC funds and other provincial investments, more than 22,000 new homes are complete, under construction or in development for people with a range of incomes throughout the province.
"We are very excited to be working with BC Housing to deliver affordable housing for seniors in the communities of Surrey, Kelowna and Nanaimo," said Ken Fraser, executive director, Vancouver Resource Society. "We will also be working towards offering on-site services to ensure seniors can live in their homes as long as possible and never have to move again."
Delivering affordable housing is a shared priority between government and the BC Green Party caucus, and is part of the Confidence and Supply Agreement.
Four properties have been purchased in three communities:
- Pacific Carlton, at 15366 17th Ave., is an independent living retirement residence with 81 units. The average monthly rent is $1,407.
- Sunnyside Manor, at 15340 17th Ave., is an independent living retirement residence with 85 units. The average monthly rent is $934.
- Fernbrae Manor, at 295 Gerstmar Rd., is an independent living retirement residence with 186 units. The average monthly rent is $420.
- Lakeside Gardens, at 4088 Wellesley Ave., is an independent and assisted living retirement residence with 123 units. The average monthly rent is $935.
A map showing the location of all announced provincially funded housing projects in B.C. is available online: https://www.bchousing.org/homes-for-BC
To learn about the steps the Province is taking to tackle the housing crisis and deliver affordable homes for British Columbians, visit: https://workingforyou.gov.bc.ca/
A backgrounder follows.