The Pleasantvale Homes Society has voted in favour of transferring ownership of its affordable housing property to B.C. Housing.
In October, the society informed the residents of Pleasantvale about the potential transfer of ownership to B.C. Housing, the Crown agency that administers, manages and develops affordable housing in the province.
B.C. Housing has now completed the work it needed to do before the transfer could be finalized.
The Pleasantvale Homes Society will continue day-to-day management of the property, located on a block bounded by Cambridge Avenue, Richter Street, Kingsway and Central Avenues.
“We have recognized for many years now that the existing buildings are nearing the end of their practical life and that we needed to find a way to ensure our current and future residents are well cared for,” said Doug Gossoo, the society president.
“A number of planning committees set up by the Rotary Club have wrestled with just how to accomplish this.
“At the end of the day, we realized that B.C. Housing is the group in the best position to take on this task, and that their mission statement is virtually identical to the purposes of the society.
“The property transfer will provide more financial options to help maintain and operate the current units as well as undertake a planning exercise to one day redevelop the site.”
Residents have been informed of the ownership transfer and have been assured they will have an affordable home today and in the future.
With the transfer of ownership under an agreement between Pleasantvale Homes Society, B.C. Housing and the City of Kelowna, new opportunities are now available to begin developing long-range plans to continue providing affordable housing on this property.
This planning process is expected to take a number of years, and will involve public input.
Through the Pleasantvale Homes Society, the Rotary Club of Kelowna has been proud to offer affordable housing for seniors for more than 50 years. The property transfer ensures this tradition will continue well into the future.