By Veronica Beltran

affordable housing

Province acquires apartments to preserve rental housing and provide affordable options in100 Mile

Dec 19, 2019 | 2:40 PM

100 MILE–The province is purchasing the Sheridan Manor, a 33-unit apartment building, in an attempt to preserve rental housing and provide affordable options for people in the community.

The province is providing around $2.9 million to finance the purchase and renovation of Sheridan Manor, located on 440 Cedar Ave. Funding will be provided through the HousingHub, a BC Housing branch that works with community, government and non-profit and private-sector stakeholders to help create affordable rental housing and homeownership options for middle-income British Columbians.

“Much-needed upgrades to the building will now take place, and rents will be kept affordable,” said Selina Robinson, Minister of Municipal Affairs and Housing.

With the acquisition, ownership of the units will be consolidated allowing for the much-needed repairs and upgrades, to thermostats, heaters and electric baseboards to be completed.

“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.”

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Current tenants will not be affected by the purchase, rents will be carried over at the same rates. BC Housing is working to find a non-profit partner to own and operate the building.