In an August 11 press release published online by the Canada Mortgage and Housing Corporation (CMHC), officials announced that the 42-unit Bel Air Motel in 2670 Skaha Lake Road will be refurbished and modernized to accommodate fiscally at-risk segments of the population.
The newly dubbed “Fairhaven” project is jointly funded by the federal government and the B.C. provincial administration, with a total investment of $3.2 million for the purchase and renovations.
“Our Government is committed to increasing affordable housing for people in need throughout the country, including Penticton. We will continue partnering with provinces and territories to fund financially sound housing projects and help improve the lives of our most vulnerable populations,” according to the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for the CMHC.
“Affordable housing for our most disadvantaged residents has been a long time goal for our community. This is a welcome and much needed development that will bring safety, independence and dignity to many who struggle to keep a roof over their heads,” Penticton mayor Andrew Jakubeit said.
The affordable housing complex is set to begin accepting tenants by fall 2016.
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The B.C. government’s recent purchase of a motel in Penticton is set to lay the foundations of an affordable rental housing option for homeless individuals in the area.