The Government of Canada is helping to build 120 units of rental housing in West Kelowna.
A $34.5-million low-cost loan from the Canada Mortgage and Housing Corporation is helping fund the project, set to provide much-needed rental housing for the city.
Harbour Ridge at 1750 Old Ferry Wharf Road is being developed by Abbotsford-based Quadra Homes. It is a five-storey mixed-use building that features 120 units, ranging from one-, two- and three-bedroom homes. All units have rents below 30 per cent of the median household income for the area, and 10 per cent of the units meet or exceed municipal accessibility standards.
“Every Canadian deserves a safe and affordable place to call home,” said federal housing minister Ahmed Hussen. “That’s why, through this investment in Harbour Ridge, our government is taking action to not only increase the supply of new rental developments but to also provide housing options that are closer to jobs, services and amenities that middle-class families in West Kelowna need. This is the National Housing Strategy at work.”
The project is part of the federal government’s National Housing Strategy, a promise by the Liberal government that it will invest $70 billion to help Canadians access safe and affordable homes. Hussen, along with Vancouver Centre MLA Hedy Fry, announced the loan on Monday to help the Harbour Ridge project come to fruition.
“The past year and a half has reminded Canadians how vital it is to have a home. Hard-working middle-class families in West Kelowna deserve homes they can flourish in: a place where their children can grow and our neighbourhoods can thrive. This investment will create rental options for 120 families and individuals throughout the Kelowna area,” said Fry.