The much-anticipated opening of one of three new buildings at the corner of Fifth Avenue and Third Street SW in Salmon Arm took place Feb. 25.
People with low to moderate incomes started moving into Larch Place, which features 32 one-, tw0-, and three-bedroom rental units, on Thursday, announced a news release from BC Housing.
At 540 3rd St. SW, Larch Place is the first phase of a 105-unit housing development on the two-acre lot.
A second building with another 35 units, including several four-bedroom suites for families, is under construction and expected to open this summer.
The provincial government is providing a total of $6.7 million for both buildings through the Building BC: Community Housing Fund.
A third building with 38 units with 24/7 support for people experiencing homelessness is anticipated to open in fall 2021. Once complete, all housing on the site will be run by the Canadian Mental Health Association Shuswap-Revelstoke.
Dawn Dunlop, executive director of CMHA Shuswap-Revelstoke which was instrumental in applying for the housing, expressed her appreciation.
“We continually hear from people in our community who are struggling to find affordable housing due to the historically low vacancy rates in Salmon Arm. The new rental housing, as well as the supportive housing being built, will be a much-needed addition to the spectrum of housing in the community.”
Mayor Alan Harrison, who along with council supported the development, also welcomed the opening.
“We recognize the important opportunities that these affordable units will provide for our residents, and wish to thank our partners, the province and Canadian Mental Health Association Shuswap-Revelstoke, for working with our community to bring this project to life.”
David Eby, Attorney General and Minister Responsible for Housing, recognized the power of affordable housing.
“This development will help more than 100 families and individuals in Salmon Arm find safe and affordable homes. These new homes reflect the commitment our government has made to working with municipalities and community partners to open affordable housing that has the power to transform lives.”
These new affordable rental units are available to individuals, seniors and families with low to moderate incomes.
The monthly rents are: four one-bedroom units for people with low incomes (ie: seniors on fixed incomes and people receiving income assistance) at $375; twenty rent-geared-to-income units (people with low to moderate incomes) at $564 for a one- bedroom up to $838 for three bedrooms; and eight market rental units at approximately $875 for a one-bedroom to $1,250 for three bedrooms.
The Community Housing Fund is part of the province’s 10-year, $7-billion housing plan.