Funding for affordable housing announced

Funding for affordable housing announced

The province has committed $2.4 million in capital funding towards the project

Families with low-to-moderate incomes will benefit from 20 units of affordable rental housing, thanks to a new agreement between the B.C. government and the City of Kelowna.

Located at 170 Drysdale Blvd., the project will include two and three bedroom townhome units of affordable-rental housing for families. Construction is expected to begin in fall 2017, with completion anticipated for fall 2018.

Following the September 2016 announcement of a $500 million investment in affordable rental housing, the province has committed $2.4 million in capital funding towards the project. The City of Kelowna is providing approximately $750,000 in land contributions.

“This is great news – this much-needed family housing will provide relief for those looking for units large enough to accommodate a parent with children,” said Mayor Colin Basran. “And it’s another great example of the City of Kelowna and BC Housing using this model to add to our stock of affordable housing options.”

BC Housing will issue a Request for Proposals (RFP) for qualified non-profit organizations and co-operatives to submit proposals to design, construct and operate the affordable rental housing project.

BC Housing staff will work with the successful proponent to fully develop the project plans and ensure the proper rezoning and consultation is considered and confirmed before construction.

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