January 10, 2011

KAMLOOPS, B.C – The governments of Canada and British Columbia, along with community partners, gathered today to celebrate the opening of Golden Vista, a new 46-unit housing development for seniors.

“We are proud to have provided more than $900,000 in funding for this project through Canada’s Economic Action Plan,” said Cathy McLeod, Member of Parliament for Kamloops-Thompson-Cariboo, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC). “The opening of Golden Vista here on the North Shore means that more seniors can continue to live independently, to remain in and to contribute to the community they call home.”

“This project covers a range of housing needs for seniors in Kamloops,” said Rich Coleman, Minister of Public Safety and Solicitor General and Minister Responsible for Housing. “There is a nice mix of units that will provide safe, affordable housing to seniors at all income levels. This is more than just a place to call home. Golden Vista will make a big difference to the people who live here and the community as a whole.”

Through an amendment to the Canada-British Columbia Affordable Housing Agreement, the federal and provincial governments are contributing a combined total of close to $1.9 million for 15 affordable seniors’ rental housing (SRH) apartments within Golden Vista.

“The demand for more affordable seniors’ housing continues to grow in Kamloops,” said Mayor Peter Milobar, City of Kamloops. “The city welcomes Golden Vista, which will help alleviate this growing demand by providing seniors in our community with more affordable housing options.”

The Canadian Mental Health Association (CMHA) – Kamloops Branch will manage and operate the 15 SRH apartments. Established in 1992, the CMHA – Kamloops Branch is a non-profit organization dedicated to raising awareness and promoting the mental health of all people through the provision of services, programming, advocacy and public education.

“The provision of increased affordable housing for seniors is a welcomed addition to this community,” said Doug Sage, executive director of the Canadian Mental Health Association – Kamloops Branch. “These apartments will have a positive impact on area seniors in need for years to come.”

Trophy Developments Ltd. specializes in creative land development, residential and commercial construction and real estate investment opportunities throughout the Kamloops region.

“Finding safe and affordable housing can be extremely challenging for seniors,” said Stefen Reid, president of Trophy Developments.  “Our goal is to create more affordable housing options through creative design and partnerships.”

The SRH initiative is a result of a $365-million joint investment under an amendment to the Canada-British Columbia Affordable Housing Agreement, which includes funding through Canada’s Economic Action Plan and by the Government of British Columbia. This initiative, initially announced by the two levels of government on April 8, 2009, will provide $123.5 million, including $104 million for seniors and $19.5 million for persons with disabilities, to develop approximately 1,300 new affordable rental housing units, which will help to stimulate local economies in smaller communities across B.C. Under terms of the agreement, the provincial and federal governments will provide matching contributions of $61.79 million.

Canada’s Economic Action Plan builds on the Government of Canada’s commitment in 2008 of more than $1.9 billion, over five years, to improve and build new affordable housing and help the homeless. It provides $400 million, over two years, to build new rental housing for low-income seniors. Overall, the Economic Action Plan includes $2 billion for the construction of new and the renovation of existing social housing, plus up to $2 billion in low-cost loans to municipalities for housing-related infrastructure.

The Province of British Columbia’s $14-billion capital infrastructure program is creating up to 88,000 jobs, helping to build vital public infrastructure in every region of the province and stimulating local economies across B.C.

For more information on this and other measures in Canada’s Economic Action Plan, visit www.actionplan.gc.ca. To find out how CMHC is working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc.ca/housingactionplan.

Through Housing Matters BC, the province is addressing a range of housing needs, from homelessness to affordable rental housing and homeownership. In 2010-11, the province will invest over $562 million to provide affordable housing and fight homelessness – more than four times as much as in 2001. To find out more about affordable housing in B.C., visit www.bchousing.org.



BACKGROUNDER

GOLDEN VISTA

Golden Vista, located at 375 Cherry Avenue in Kamloops, provides 46 apartments for seniors, including 15 seniors’ rental housing (SRH) apartments. The four-storey building consists of a mix of one-bedroom and studio apartments, including:

• 15 SRH apartments for seniors in need, purchased by the province and managed by the Canadian Mental Health Association – Kamloops Branch;
• 23 affordable rental apartments owned by Trophy Developments Ltd.; and
• Eight private market strata apartments.

PARTNERS AND FUNDING

The total capital cost for purchasing 15 SRH apartments at Golden Vista is $1,855,760:

• The Government of Canada, through Canada Mortgage and Housing Corporation, provided $927,880 with funds from Canada’s Economic Action Plan.
• The Province of British Columbia provided $927,880 through a Provincial Infrastructure Grant for Seniors and Persons with Disabilities.

CANADIAN MENTAL HEALTH ASSOCIATION (CMHA) – KAMLOOPS BRANCH

Established in 1992, the CMHA – Kamloops Branch is a non-profit organization committed to raising awareness and promoting the mental health of all people through the provision of services, programming, advocacy and public education.

TROPHY DEVELOPMENTS LTD.

Founded by former CFL veteran and Grey Cup champion Stefen Reid, Trophy Developments Ltd. specializes in residential and commercial construction, creative land development and real estate investment opportunities in the Kamloops region.