The Province is buying a 33-unit apartment building in 100 Mile House.
The Ministry of Municipal Affairs and Housing announced Thursday it is providing approximately $2.9 million to finance the purchase and renovation of Sheridan Manor to preserve rental housing and provide affordable options for people in the community.
“It’s always to good to ensure that we have some more low-income housing,” says Cariboo-Chilcotin MLA Donna Barnett.
“The concern I have is it doesn’t add to low-income housing when the apartment is full. It would have been nice to see a new facility so we could actually have more rentals. Rentals are tight and hard for people to get as it is, but I guess for the future as people move out then, of course, it can turn around.”
The Ministry says current tenants of the building will not be affected by the acquisition and that monthly rents will be carried over at the same rates. Ownership of the units will also be consolidated so that repairs and upgrades, such as new thermostats, heaters, and electric baseboards can be undertaken immediately.
BC Housing is currently working to find a non-profit partner to own and operate the building.
“The decision to acquire and secure this rental housing in 100 Mile House is important to the long-term well-being of our community,” said Mitch Campsall, mayor, District of 100 Mile House.
“It helps ensure that we have the homes people need to stay, work and build lives here in the Cariboo.”