A new subsidized housing development in Kelowna has been welcoming new residents for the past month.
Rentals at the new 40-unit development near the corner of Cawston Avenue and Gordon Drive cost between $375 and $1,835 monthly, depending on unit size and the tenants' income.
The development will be operated by the NOW Canada Society, and the new homes are intended primarily for women, single-parent families and seniors.
“NOW Canada is delighted to be partnering with all levels of government to create more affordable housing for Kelowna residents,” said Liz Talbott, executive director of NOW Canada Society. “This is another step forward in addressing the lack of affordable housing for people with low to moderate income in our region.”
The province provided $4 million in grant funding for construction of the subsidized housing facility, and it will provide an additional $204,000 annually for operating costs.
The City of Kelowna contributed by reducing development costs by $33,000 on the project.
“Affordable housing projects like this one make a big difference for a lot of people in our community,” said Kelowna Mayor Colin Basran. “In this case, 40 different individuals and families will get access to an affordable home.”
The province's funding came from the Community Housing Fund, a 10-year, $7 billion housing plan that will see more than 14,000 rental units built for low- and moderate-income families. More than 8,800 of these homes have already been built, are under construction or are in development around the province.