Seniors in need of affordable rental housing in Burnaby now have access to 145 new homes to live in.
"Too many seniors, especially those on fixed incomes, are being squeezed out of a tight rental market," said Raj Chouhan, MLA for Burnaby-Edmonds, in a news release. "I am thrilled for the seniors who have a new place they can afford. Our government is working hard to create the partnerships needed to build even more projects like this to help people find a place to call home in their community."
Located at 4341 Rumble St., the four-storey McKay Apartments replaced nine aging duplex cottages. The new apartments are providing comfortable and secure homes for low- to moderate-income seniors and are near community amenities, retail areas and transit.
"We know that seniors are struggling to stay in the community they know and love, close to friends and family," said Anne Kang, Parliamentary Secretary for Seniors. "Thanks to the opening of McKay Apartments, more than 140 seniors now have a home where they can age in place."
Fair Haven Homes Society has been providing low-cost housing for seniors for close to 70 years and will manage the building.
* The Province, through BC Housing, provided $3 million in capital funding and $20.6 million in construction financing for the project.
* The City of Burnaby contributed municipal waivers in the amount of approximately $690,000.
* The Rotary Club of Burnaby contributed outdoor exercise equipment, valued at approximately $25,000.
* Rental rates for the Fair Haven project are:
* Studio: $975/month
* Accessible one bedroom: $1,300/month
* One bedroom: $1,300/month
* 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.