KELOWNA - Nearly 40 new affordable homes are now available for low- to middle-income seniors, couples and individuals in Kelowna, as a new rental apartment building opens.

"We know Kelowna needs more affordable rental housing as the community continues to grow. This beautiful building will offer dozens of Kelowna residents new, safe and affordable places to call home," said David Eby, Attorney General and Minister Responsible for Housing. "With the $2-billion increase to our HousingHub's borrowing capacity in Budget 2021 and strong partnerships like our relationship with the City of Kelowna, we're going to see many more badly needed affordable homes just like these opening across the province."

Located at 1165 Sutherland Ave., Columbus Centre has 36 below-market rental homes designed to be affordable for low- to middle-income households. The four-storey building features a mix of studio, one-bedroom and two-bedroom rental homes. The building includes 12 units of market-rate housing and six units of commercial space. Rents for the below market homes will be:

• four rent-geared-to-income studio units (i.e., people with low to moderate incomes): $375 to $750 per month;
• 24 one-bedroom units: $950 per month; and
• eight two-bedroom units: $1,600 per month.

Columbian Centennial Housing Society (CCHS) owns all of the residential units and one commercial unit. The commercial unit will be used for the society's administrative office to provide amenities and services to residents in the building, as well as six other properties operated by the society.

The project is being built in partnership with CCHS through BC Housing's HousingHub program. HousingHub was created in 2018 and works with community, government, non-profit and private-sector partners to help create new affordable rental housing and homeownership options for middle-income British Columbians.

Unlike other types of projects, the Province does not directly fund HousingHub projects. Instead, the Province provides low-cost financing through HousingHub to encourage developers to build new homes for middle-income households by providing loans with lower interest rates than would be otherwise available. In return, developers commit to pass these construction-cost savings through to the tenants and prospective homeowners in the form of more affordable rents and homeownership opportunities.

The Province provided approximately $9.65 million in total financing for this project, which will be repaid by CCHS.

The building is located in the Capri Centre area of Kelowna and is close to urban transit and amenities. Residents started moving into their new homes on May 15, 2021.

Quotes:

Colin Basran, mayor, City of Kelowna -

"Every new home built in our city is worthy of celebration, but affordable housing projects like this one deserve special notice. This project means 36 Kelowna couples, seniors and single people will have a new place to call home, and that's a big deal. Thanks and congratulations to the Ministry of Attorney General and Responsible for Housing and to the Columbian Centennial Housing Society for making this project a reality."

Keith Bepple, executive director, CCHS -

"Columbus Centre is the society's first new apartment development in 35 years, and we're excited to be adding 36 affordable rental units to our inventory. This project is providing much- needed affordable rental homes for Kelowna's middle-income earners."

Roly Russell, MLA for Boundary-Similkameen -

"Seniors and couples in Kelowna now have another affordable and sustainable housing option close to local services and amenities, so they can fully be a part of their local community. Big thanks to both the City of Kelowna and the Columbian Centennial Housing Society for making this project a reality."

Learn More:

For more information about HousingHub: https://news.gov.bc.ca/releases/2021AG0025-000720

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

Learn more about the steps the Province is taking to tackle the housing crisis and deliver affordable homes for British Columbians: https://workingforyou.gov.bc.ca/

Contacts:

Ministry of Attorney General and Responsible for Housing
Media Relations
778 678-1572

BC Housing
media@bchousing.org