The Province is buying a 33-unit apartment building in 100 Mile House to preserve rental housing and provide affordable options for people in the community.
“We are taking action to protect these homes for people in 100 Mile House,” said the Hon. Selina Robinson, BC's Minister of Municipal Affairs and Housing. “Much-needed upgrades to the building will now take place, and rents will be kept affordable.”
The Province is providing approximately $2.9 million to finance the purchase and renovation of Sheridan Manor. Funding is being provided through the HousingHub, a BC Housing branch that works with community, government and non-profit and private-sector stakeholders to help create affordable rental housing and home ownership options for middle-income British Columbians.
Located at 440 Cedar Ave., Sheridan Manor had 33 separate strata-owned units, which complicated budgeting for needed repairs and maintenance. With the acquisition, ownership of the units will be consolidated so that repairs and upgrades, such as new thermostats, heaters and electric baseboards, can be undertaken immediately.
The current tenants of the building will not be affected by the acquisition. Monthly rents will be carried over at the same rates. BC Housing is working to find a non-profit partner to own and operate the building.
“The decision to acquire and secure this rental housing in 100 Mile House is important to the long-term well-being of our community,” said Mitch Campsall, Mayor of the District of 100 Mile House. “It helps ensure that we have the homes people need to stay, work and build lives here in the Cariboo.”
Delivering affordable housing is a shared priority between government and the BC Green Party caucus and is part of the Confidence and Supply Agreement.
Learn More:
A map showing the location of all announced provincially funded housing projects in B.C. is online: https://www.bchousing.org/homes-for-BC
To find out what the Province is doing to improve housing affordability, visit:
https://news.gov.bc.ca/factsheets/bc-government-addressing-housing-affordability-challenges
https://news.gov.bc.ca/factsheets/bc-government-addressing-housing-affordability-challenges
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