Community of Support Provides Unique Affordable Housing Mix

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 30, 2016) - A new affordable housing development under construction in East Vancouver will increase options for those who are homeless or at risk of homelessness, while providing a unique approach to supportive housing.

Co:Here Housing Community is a 26-unit project that will see co-residents - individuals, couples and families - living alongside individuals vulnerable to homelessness, to help foster a community of support within the building.

The project is based on a community development approach to supportive housing that emphasizes the connections between people from different economic, cultural, health and societal backgrounds, in order to provide support services.

Located at 1723 Victoria Drive, the building will include 18 - 20 units for people who are homeless or at risk of homelessness, and 6 - 8 units for low to moderate income individuals, couples and families. Once complete, Co:Here Housing Community will be managed and operated by Salsbury Community Society.

Quick Facts:

• The governments of Canada and British Columbia will provide a combined investment of up to $3.5 million through the Investment in Affordable Housing initiative.
• The B.C. Government will provide over $1 million in construction financing and approximately $300,000 in long term financing.
• The City of Vancouver will provide $742,000 in contributions and reductions.
• Streetohome Foundation will provide $520,000.
• The Societies have secured grants from CBWC and VanCity totalling $75,000 and capital donors have provided over $4.5 million for the project.
• The land, valued at approximately $2.6 million, was provided by the Grandview Calvary Baptist Church.

Quotes:

Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation - "Through investments in affordable housing, our Government is providing assistance to those who need it most here in British Columbia and in all corners of the country. We are committed to making communities stronger through projects like these."

Suzanne Anton, Minister of Justice & MLA for Vancouver-Fraserview - "The Province is proud to partner with all levels of government, as well as Co:Here Foundation and Salsbury Community Society, on this unique project. The community of support will foster healthy relationships of mutual transformation, as well as add to a diversity of housing options."

Mayor Gregor Robertson, City of Vancouver - "The Co:Here Housing Community development is a testament to the commitment and creativity of all the partners involved with this unique project. Vancouver's most vulnerable residents need us to find ways to reduce homelessness not just with housing but with creative approaches to delivering services. Co:Here Housing Community moves away from a traditional supportive housing model and taps into the strength of community to inspire positive social change."

Rob Turnbull, President & CEO, Streetohome Foundation - "Streetohome Foundation provides safe, supportive housing for the most vulnerable individuals in our City. Since 2008, Streetohome has partnered with the City, BC Housing, and the federal government to ensure the right services and supports are in place for those who are homeless in our community. "

John Koehn, Chair, Co:Here Foundation - "The key to building housing - to creating communities - is building relationships. We hope that the relationships between all partners who came together in support of this initiative will be mirrored by the relationships of the residents of Co:Here Housing Community."

Thomas Dickau, Chair, Salsbury Community Society - "We would like to thank our partners in this unique endeavour, including the many individual donors whose financial support has contributed significantly towards this project. We look forward to establishing and nurturing a community of belonging in Co:Here."

Associated links:

• CMHC has been helping Canadians meet their housing needs for more than 70 years. 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 Canadian governments, consumers and the housing industry. Prudent risk management, strong corporate governance and transparency are cornerstones of its operations. For more information, please call 1-800-668-2642 or visit www.cmhc.ca.
  
  
• Since 2001, the B.C. government has invested $4.4 billion to provide affordable housing for low-income individuals, seniors and families. This year, nearly 102,000 B.C. households will benefit from provincial social housing programs and services. To find out more, go to: www.bchousing.org.

Stay connected:

- Follow CMHC on Twitter, YouTube, LinkedIn and Facebook.

- Follow BC Housing on Twitter @BC_Housing

- Connect with the Government of B.C. at: www.gov.bc.ca/connect

- Connect with Co:Here Housing Community at www.coherehousing.com or follow on Facebook, Twitter, and Linkedin.

- Connect with Salsbury Community Society at www.salsburycs.ca