More than 100 affordable homes to be revitalized in Penticton
PENTICTON - The Province, through BC Housing, has purchased three motels in Penticton as part of a proposed redevelopment plan to preserve and revitalize 105 affordable homes for people with low incomes in the community.
"The purchase of these motels will help ensure existing affordable housing in Penticton is maintained and improved so people can continue to live affordably and thrive in the community," said David Eby, Attorney General and Minister Responsible for Housing. "We will continue to explore new and creative avenues like this one to help tackle the housing crisis and meet the needs of renters and homeowners across B.C."
Over the long term, BC Housing plans to apply for rezoning to redevelop the three motels and one provincially owned site into newer affordable housing for people with low incomes. The details of these projects will be determined through consultation with the community.
The properties are:
- Meadow Lark Motel at 2730 Skaha Lake Rd.;
- Sun Valley Motel at 2784 Skaha Lake Rd.;
- Mayfair Motel at 2824 Skaha Lake Rd.; and
- Skaha Sunrise Apartments at 2872 Skaha Lake Rd. and 179 Green Ave. W.
The three motels are being used as below-market short-term rentals. BC Housing will take over all 57 tenancy rental agreements at the motels and will make some minor improvements to the buildings, preserving much-needed affordable housing units in Penticton. Current residents will not be affected by the renovations.
BC Housing already owns Skaha Sunrise Apartments, with 48 low-income rental housing units in four buildings. The buildings have been identified as a candidate for redevelopment due to their age and condition.
The current homes and the proposed redevelopment will be used to provide affordable housing for people with low incomes in the community.
The Province invested approximately $7.9 million for the purchase of the three motels.
To learn about the project, ask questions and provide feedback, visit: https://letstalkhousingbc.ca/penticton-skaha-assembly-redevelopment
- An independent appraisal of the sites was completed in April 2021 and supports the purchase price.
A map showing the location of all announced provincially funded housing projects in B.C. is available online: https://www.bchousing.org/homes-for-BC
To learn about the steps the Province is taking to tackle the housing crisis and deliver affordable homes for British Columbians, visit: https://workingforyou.gov.bc.ca/
Ministry of Attorney General and Responsible for Housing