Seniors with low incomes will soon benefit from 4 new affordable rental homes, as construction begins on the expansion of the Cortes Island Seniors Village. With more affordable, accessible homes that allow seniors to stay, our community is made richer and more vibrant.
Seniors deserve to have safe and affordable housing, close to their friends and loved ones. We couldn’t have done this without our partners, BC Housing, and without the cooperation and support of the Strathcona Regional District, CMHC Seed Fund, Coastal Community Credit Union, Rural Dividend Fund, and incredible support from private donors. Last but certainly not least, thank you to The Cortes Island Seniors Society, The Cortes Island Foundation, our staff and volunteers who have supported this initiative from its inception. Together we are creating a good place to call home so our elders can stay in their community.
“I am very pleased to see all that the hard work of the people of Cortes Island and multiple partners has come to fruition and housing for low income seniors is now becoming a reality,” said Claire Trevena, MLA for North Island.
Located at 951 Beasley Road, the expansion will add 4 one-bedroom units for seniors. When combined with the existing 6 cottages, there will be a total of 10 units. Construction is planned to begin in mid-May, with new tenants moving in December or January.
The Cortes Island Seniors Society (CISS) will own and operate the one-storied wood frame buildings. The society is receiving a grant of $400,000 from the Province’s Building BC: Community Housing Fund, in addition to approximately $1 million in construction financing and annual operating funding for the project from BC Housing. The society provided the serviced land, valued at $170,000 and $100,000 in cash equity via donations secured from the Cortes community and other granters.
This is a day to celebrate! There will be more affordable housing for seniors, and employment created for local trades and subcontractors at a time when the island economy is most in need of new infrastructure projects.
This housing development is funded through the Building BC: Community Housing Fund, a $1.9-billion investment over 10 years, to build more than 14,000 mixed-income rental homes throughout BC.
The four units in this project will be for seniors, with rent-geared-to-income. This means 30% of income will be allocated towards rent, averaging approximately $535/month depending on the resident’s actual income.
Learn More: www.CortesCommunityHousing.org
A map showing the location of all announced provincially funded housing projects in B.C. is available online: https://www.bchousing.org/homes-for-BC
To learn about the steps the Province is taking to tackle the housing crisis and deliver affordable homes for British Columbians, visit: https://workingforyou.gov.bc.ca/
If you have any questions regarding this project, please contact us via email at: email@example.com