Oncore Seniors Society shopping for North Shore residence complicated with assist from BC Housing | Radio NL

Oncore Seniors Society buying North Shore apartment complex with help from BC Housing

The B.C. authorities is investing $10.1 million in a five-storey residence complicated on the Kamloops North Shore in order that it stays out there for seniors.

The cash will go to the Oncore Seniors Society permitting it to purchase the 53-unit Silvercrest Suites constructing at 154 Vernon Avenue, between Tranquille and Fortune. It says it’s going to be certain that the constructing will not be offered to a non-public developer, which might result in larger rents or folks dropping their properties to redevelopment.

“Our ardour is to develop engaged communities that provide housing, providers and actions that make a optimistic distinction on the standard of lifetime of our residents,” Mona Murray, the chair of the Oncore Seniors Society, mentioned, in an announcement.

“Via the great assist of BC Housing and Canada Mortgage and Housing Company, we’re in a position to notice our imaginative and prescient. We’re proud to proceed offering reasonably priced housing and different providers to reinforce the dwelling expertise for the residents at Silvercrest Suites.”

Beneath the settlement, the prevailing tenants at Silvercrest Suites is not going to be moved out. Their rental charges may even stay frozen.

The federal authorities, by the Canadian Mortgage and Housing Company, can be chipping in $830,000 towards the acquisition of the constructing.

“By serving to facilitate the acquisition of this residence constructing, we’re ensuring that seniors in Kamloops proceed to have entry to rental properties they’ll afford,” David Eby, B.C.’s Minister Liable for Housing, added.

“Our authorities will proceed to discover avenues, like BC Housing’s HousingHub, to present seniors and other people in B.C. the safety and peace of thoughts that comes with having an reasonably priced place to name residence.”

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