More affordable housing is coming to Vernon.
Ground was officially broken Tuesday, Aug. 18, for 12 affordable rental townhomes for seniors, people with disabilities and families with low to moderate incomes in the 4000 block of Pleasant Valley Road between 39th and 40th avenues.
Monthly rents are projected to range from $375 to approximately $1,148.
“People deserve safe, secure and affordable housing,” said provincial Minister of Municipal Affairs and Housing Selina Robinson, who was not on hand for the ground-breaking ceremony. “From young families to seniors, these projects will mean more people can find a good, affordable home in their community, close their friends and family.”
The province is providing $1.2 million toward the project from its Building BC: Community Housing Fund, as well as interim construction financing of 42.8 million and annual operating cash.
The City of Vernon provided the land, valued at $600,000, and $134,000 in municipal waivers.
The non-profit operator, Vernon and District Community Land Trust Society, is providing $69,000 in equity.
It’s the second such project for Vernon.
The province provided $6.3 million in capital funding for 38 homes for Indigenous families, Elders, youth and individuals with accessibility challenges with low to moderate incomes in 2019, a project that became known as Thunderbird Manor, a four-storey development in the 5500 block of 27th Avenue.
Ottawa chipped in $2.2 million and the city provided $415,000 in municipal waivers.
The projects are part of more than 23,000 new homes that complete or underway around the province, including nearly 3,900 in the Interior.
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roger@vernonmorningstar.com
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