Governments partner with a local seniors’ society to provide new low-cost housing supply for Kamloops
BC Housing has announced that it is allocating approximately $11.4 million for a residential complex in Kamloops, expected to provide 53 units of affordable housing for seniors.
The partnership with Oncore Seniors Society will finance the purchase of the five-storey Silvercrest Suites building located at 154 Vernon Avenue. Aside from the funding, approximately $830,000 will be provided by the government of Canada through the Federal Bilateral BC Priorities Housing Initiative.
“By assisting with the purchase, BC Housing is ensuring that the building continues to provide affordable housing to independent seniors and is not sold to a private developer, potentially putting seniors at risk of higher rents or losing their homes to redevelopment,” said Canada Mortgage and Housing Corporation.
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“We are making sure that seniors in Kamloops continue to have access to rental homes they can afford. Our government will continue to explore avenues, like BC Housing’s HousingHub, to give seniors and people in BC the security and peace of mind that comes with having an affordable place to call home,” added David Eby, Attorney General and Minister Responsible for Housing.
Henceforth, the building will be owned and operated by Oncore Seniors Society. Governments offered assurances that monthly rents will remain the same, and that current tenants will not be displaced by the acquisition.
