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| Backgrounder(s) & FactSheet(s): | Backgrounder |
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| Backgrounder(s) & FactSheet(s): | Backgrounder |
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VANCOUVER – Members of Vancouver’s arts community and their project partners celebrated the construction of 111 units of mixed-income housing for seniors in Coal Harbour today. The new units, located at 1616 Bayshore Drive, a prime downtown location, will offer affordable housing options for low-income seniors involved in the performing arts and allied professions.
This development is a multi-partnership initiative between three
levels of government and PAL Vancouver (Performing Arts Lodge), a non-profit
organization. The federal and provincial governments are contributing $500,000
to the project under the Canada-B.C. Affordable Housing Agreement, through
Canada Mortgage and Housing Corporation (CMHC) and through BC Housing. The City
of Vancouver provided the land through a 60-year lease for a nominal sum and
grants totaling $1 million. PAL has raised over $4 million and aims to raise at
least another $4.9 million. “Producing quality, affordable housing is what the partnership between the governments of Canada and British Columbia, and the City of Vancouver, is all about,” said the Honourable Hedy Fry on behalf of the Honourable Joe Fontana, Minister of Labour and Housing. “Housing projects like this one in Coal Harbour are key to helping seniors continue to contribute to society, not just here in B.C. but across Canada.”
“Innovative public and private partnerships are key to increasing affordable housing options,” said Vancouver-Burrard MLA Lorne Mayencourt, “This affordable seniors housing development in the downtown core serves as a strong example of what can be achieved when all three levels of government and the private sector partners come together.”
“The City of Vancouver has been recognized as one of the best places to live and last year, Vancouver was designated a Cultural Capital of Canada,” said Larry Campbell, City of Vancouver Mayor. “PAL’s development here shows our commitment to helping create a great city for everyone including low income seniors in the performing arts.”
“This is truly a remarkable milestone for
PAL Vancouver. Our goal of providing affordable housing for the hundreds of
talented individuals who have contributed so much to the cultural fabric of the
city is now in sight,” said PAL Vancouver past President Phil Boname. “We owe a
tremendous debt of gratitude to the City of Vancouver, especially, the Social
Housing Committee and the Mayor and City Council. We are also indebted to both
BC Housing and the Federal Government through CMHC for their grants and
financing of the project, and to our partners Bayshore Gardens Development.” Under the Canada-British Columbia Affordable Housing Agreement, the Government of Canada, through Canada Mortgage and Housing Corporation, will contribute $88.7 million towards affordable housing in this province. The provincial government, through BC Housing, will provide $29.7 million annually to subsidize the costs of units built under this agreement as part of a larger strategy to provide a range of housing options for British Columbians in greatest need.
The provincial government has committed funding for the construction of about 3,400 housing units across B.C. since June 2001. To date, about 2,850 of these units have been completed and 550 are under development. In addition, through partnership funding to community groups to increase housing options for British Columbians in the greatest need, another 591 affordable housing units have been created.
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