Affordable housing in the works for Cranbrook
After construction, the development will continue to be operated by BC Housing.
Twenty new homes are on the way for families, seniors and people in need of affordable housing in Cranbrook, where the rental vacancy rate is near 1%.
"These homes will help support the community's health by providing families and seniors with safe, secure housing to grow and prosper," said Selina Robinson, Minister of Municipal Affairs and Housing. "Working with partners, we're delivering affordable housing in all corners of the province, and I'm excited to see these homes getting underway in Cranbrook."
Located at 126 and 130 21st Ave. South, the apartment building will be a redevelopment of a BC Housing-owned property and will provide affordable housing for low- to moderate-income individuals, families and seniors. Four units will be available for people with disabilities.
"On behalf of our community and council, we're pleased to welcome these affordable homes for families and seniors in Cranbrook," said Lee Pratt, mayor, City of Cranbrook. "We're proud to work with the Province and our community partners to help support our residents with important housing projects like this one."
The project is in the design development stage, with construction anticipated to start by spring 2020. After construction, the development will continue to be operated by BC Housing.
Delivering affordable housing is a shared commitment between government and the BC Green Party caucus, and is part of the Confidence and Supply Agreement.
Rents for this project will be geared to income, which means people will pay approximately 30% of their gross household income. Including these homes, the Province is working in partnership to build 155 affordable homes in Cranbrook:
- Affordable Rental Housing program: 20 affordable rental homes for low- to moderate-income individuals, families and seniors
- Building BC: Indigenous Housing Fund: 39 affordable rental homes for Indigenous peoples
- Student housing: 96 beds (College of the Rockies)
To address the issue of housing affordability for British Columbians, the Province is curbing speculation in B.C.͛s housing market and helping build 114,000 affordable market rental, non-profit, supported social housing and owner-purchase housing through partnerships.