66 NEW HOUSING UNITS FOR SENIORS AND YOUTH IN CHILLIWACK

Rendering of the Paramount building at 46187 Yale Road in Chilliwack, BC. (CNW Group/Canada Mortgage and Housing Corporation)

Government of Canada Logo (CNW Group/Canada Mortgage and Housing Corporation)

CMHC Logo (CNW Group/Canada Mortgage and Housing Corporation)

CHILLIWACK, BC, Feb. 16, 2022 /CNW/ - Every Canadian deserves a safe and affordable place to call home. Affordable housing is key to Canada's pandemic recovery, especially for communities across the country, including in Chilliwack.

Today, John Aldag, Member of Parliament for Cloverdale–Langley City, on behalf of the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, along with Dan Coulter, MLA for Chilliwack, and Ken Popove, Mayor of Chilliwack, announced that construction on a 66-unit affordable rental housing project for independent seniors and youth is underway in Chilliwack.

Located at 46187 Yale Road, the six-storey building called the Paramount will provide 58 units of affordable rental housing for seniors, and eight units for young adults between the ages of 19 and 25. This housing project is unique in Chilliwack, and one of only a few in the province to offer a continuum of affordable housing for youth transitioning from the child welfare system.

Operated by Chilliwack Community Services, the Paramount project will be an innovative, mixed-use development that will include both residential and commercial spaces. The residential space will be a mix of affordable studio, one- and two-bedroom units, including 13 that are wheelchair-accessible, in addition to laundry and lounge spaces. Rents are expected to range from $375 for a studio unit to $1,500 for a two-bedroom unit.

The Government of Canada, through Canada Mortgage and Housing Corporation, is contributing $7 million in combined Canada Community Housing Initiative and BC Priorities Housing Initiative bilateral agreement grants. The Province, through BC Housing, is providing $105,500 in funding through the Building BC: Community Housing Fund, and an annual operating subsidy of $391,522. The City of Chilliwack is providing the land for the project and, as well as over $1 million in waived fees and development costs. The City also expedited development approvals for the project. 

Construction is expected to be completed in winter 2024.

Quotes:

"Every Canadian deserves a safe and affordable place to call home. Our government continues to find ways to create more affordable homes that meet the needs of Canadians, including right here in Chilliwack. This is the National Housing Strategy at work, and we will continue to ensure no one is left behind." – The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion

"The Paramount project is yet another example of what can be achieved when we work together. Through this collaboration, our government is helping to ensure that Chilliwack's seniors and youth have safe and affordable housing that enables them to thrive." – John Aldag, Member of Parliament for Cloverdale–Langley City

"Too many people in our community, including youth and seniors, don't have access to the affordable housing they need. That's why our government is working with partners at all levels of government to build safe and affordable homes where youth can have a stable foundation to take the next steps toward adulthood and seniors can stay connected to their community, while living independently."
– Dan Coulter, Member of the Legislative Assembly of British Columbia for Chilliwack

"We know from our Housing Needs of Aging Adults study that seniors are the fastest growing age group in Chilliwack, and that housing affordability is the most significant factor they face. The Paramount project will help meet a critical need in the community and will be an important part of the housing continuum for youth and seniors with limited income. We are grateful for the support of the Government of Canada, Province of British Columbia, and Chilliwack Community Services, and look forward to this project's completion." – Ken Popove, Mayor of Chilliwack

"Chilliwack Community Services is committed to providing affordable and safe housing for seniors and young adults in Chilliwack and contributing to addressing one of the top needs here in our community. The Paramount Project has been a vision of CCS for many years. It has been realized through the support of the Province of British Columbia, through BC Housing, and the City of Chilliwack for their generous contribution of land and waiving of fees."  – Luke Zacharias, Board President, Chilliwack Community Services

Quick facts:

• Canada's National Housing Strategy (NHS) is a 10-year, $72+ billion plan that will give more Canadians a place to call home.
• With a budget of $13.2 billion, the NHS's National Housing Co-investment Fund (NHCF) gives priority to projects that help those in greatest need, including women and children fleeing family violence, seniors, Indigenous Peoples, people with disabilities, those dealing with mental health and addictions, veterans, and young adults.
• To help Canadians find affordable housing, Federal Budget 2021 provides an additional $2.5 billion over seven years in new funding and to reallocate $1.3 billion in previously announced funding to speed up the construction, repair, and support over 35,000 additional housing units.
• In Federal Budget 2021, $750 million in existing funding under NHCF has been advanced to 2021-22 and 2022-23. This will accelerate the creation of 3,400 new units and the repair of 13,700 units. $250 million in existing funding will also be allocated to support the construction, repair, and operating costs of an estimated 560 units of transitional housing and shelter spaces for women and children fleeing violence. This funding will help the Government address gender-based violence.
• The Community Housing Fund is part of the Province's 10-year, $7-billion housing plan.
• The fund is an investment of $1.9 billion to build more than 14,000 affordable rental homes over 10 years for moderate- and low-income families and individuals.
• More than 8,800 of these homes are already open, under construction or in development throughout the province.
• This project is part of the Government of B.C.'s 10-year, $7-billion housing plan. Since 2017, the Province has funded nearly 32,000 affordable new homes that have been completed or are underway for people in B.C., including more than 400 homes in Chilliwack.

Associated links: 

• As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC's aim is that by 2030, everyone in Canada has a home they can afford, and that meets their needs. For more information, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
  
  
• To find out more about the National Housing Strategy, visit: www.placetocallhome.ca
  
  
• To learn about the steps the Province is taking to tackle the housing crisis and deliver affordable homes for British Columbians, visit: https://workingforyou.gov.bc.ca/
  
  
• A map showing the location of all announced provincially funded housing projects in B.C. is available online at: https://www.bchousing.org/homes-for-BC

SOURCE Canada Mortgage and Housing Corporation

Arevig Afarian, Press Secretary, Office of the Minister for Housing and Diversity and Inclusion, [email protected]; Media Relations, Canada Mortgage and Housing Corporation, [email protected]; Media Relations, Office of the Attorney General and Ministry Responsible for Housing (BC), 778 678-1572; Media Relations, BC Housing, [email protected]