New affordable housing projects breaks ground in Kelowna

Redevelopment of Pleasantvale to include 50 units of affordable seniors' housing and 20 townhomes for low income families.

  • Dec. 15, 2014 6:00 a.m.

Kelowna community partners have joined up with the federal and provincial governments to celebrate the groundbreaking today of the redevelopment of Pleasantvale today, which will provide 50 units of affordable seniors’ housing and 20 townhomes for families with low to moderate incomes in Kelowna.

 

Construction of the new Pleasantvale, located on the 600 block of Richter St., is scheduled to be completed by spring 2016.

The federal and provincial governments  will provide a combined investment of more than  $5.6 million toward the purchase of the 20 affordable rental townhomes for families with low-to-moderate incomes through the Federal-Provincial Housing Initiative .

The B.C. government has arranged approximately $12.4 million in construction financing for the project and provided the land, originally donated by Pleasantvale Homes Society and the City of Kelowna, valued at $2 million.

The City of Kelowna credited $154,070 in development cost charges and granted $273,171.

The Society of Hope will manage and operate the development.

“The rebuilding of Pleasantvale Homes is an exciting project where young families and seniors will form a close knit community, bringing each other a wealth of support and experience. I am very proud of our government’s investment in our community and in improving the quality of life of our residents,” said local MP Ron Cannan.

“For over two decades, the Society of Hope has been making a difference in people’s lives, and we’re pleased to partner with them on this project,” added Premier Christy Clark, the MLA for Westside-Kelowna.

“The redevelopment of Pleasantvale will not only continue and preserve the legacy left by Pleasantvale Homes Society, but it also ensures residents will have increased access to new, affordable housing in Kelowna for years to come.”

Kelowna Mayor Colin Basran said the city’s investment on this project will help enhance and increase the existing affordable housing options available in our city, making a real difference in the lives of all those who currently call and will call Pleasantvale home.

“We’d like to thank all of our partners for their support and dedication to providing for all those in need of affordable housing in this community,” Basran said.

Catherine Comben, chair of the Pleasantvale Homes Society, said the society has been a project of the Kelowna Rotary Club dating back to the 1950s.

“We are proud to have contributed the land for the redevelopment of Pleasantvale. This will ensure that the needs of low- income and disadvantaged seniors in our community will continue to be met for the upcoming decades through the auspices of the Society of Hope as they become the new operators of the redeveloped complex.”

Lorne Gerber, president of the Society of Hope, noted his society’s goal is to provide new, modern homes for families and seniors in need of affordable housing on this sitee. “We look forward to the completion of this development to achieve this goal.”

 

Kelowna Capital News