A new affordable housing project is coming to 麻豆精选鈥檚 downtown area.
The city has partnered with non-profit developer Housing Okanagan Foundation to build 149 rental suites at 1428 St. Paul Street.
The development will include 30 per cent of the suites (44) offered at 20 per cent below-market rates to meet the affordability needs of household incomes ranging from $80,000 to $120,000.
As development costs are gradually paid down, more suites will become available at below-market rents.
鈥淎ffordable housing is a top priority for council, and this project shows how we can work together to take action and deliver housing for middle-income families,鈥� Mayor Tom Dyas said in a statement. 鈥淏y building more homes for teachers, nurses, electricians and other skilled professionals, we are working to ensure everyone in 麻豆精选 has greater access to the housing options they need, while creating a strong, connected community.鈥�
The city part of the deal includes a 65-year, non-market lease on the land for the project. Housing Okanagan Foundation will apply for funding and financing through the Province鈥檚 BC Builds program.
鈥淲e鈥檙e honoured by the trust the city has placed in us to lead this work, and we鈥檙e excited to partner with them to deliver real results for middle-income households,鈥� Rich Threlfall, CEO of Housing Okanagan Foundation, said.
鈥淭his project will serve as a scalable model for long-term, non-profit, community-owned housing throughout the Okanagan.鈥�
The city鈥檚 statement said that expanding access to affordable housing for middle-income families strengthens the entire housing system, creating a ripple effect that improves stability across all housing types, supports our most vulnerable residents, reduces the risk of homelessness, and fosters healthier, more resilient communities.
Construction of the St. Paul Street project is expected to begin in 2026.
