A $4.9 million investment from BC Housing has landed Oliver more than 40 new affordable homes, the province has announced.
The four-storey, 46-unit building at 5931 Airport Street opened Thursday, Oct. 6, and will provide a mix of affordable housing types for families, seniors and individuals living with disabilities.
“With the opening of this building, more people in Oliver will have the security and peace of mind that comes with an affordable place to live,” said Roly Russell, the MLA for Boundary-Similkameen.
The apartment building includes 27 one-bedroom, 15 two-bedroom and four three-bedroom units, with rents ranging from $420 to $990.
Rent prices depend on unit size and tenant income.
“More housing in the community has a cascading effect for locals who need an appropriate place to live, helps provide some stability for people to engage and be active participants in our local economy, and helps alleviate the uncertainty and stress for 46 more people and their families looking for a place to live without having to leave Oliver and our beautiful area,” Russell added.
Oliver’s newest rental building is owned by the M’akola Housing Society, the same group involved in the operation of the pending five-storey affordable project on Penticton’s Main Street.
“Housing can be challenging to find in the Town of Oliver, especially for the people this 46-unit development aims to serve,” said Oliver mayor Martin Johansen. “Oliver celebrates the opening of these affordable homes on Airport Street that will serve individuals, seniors and families who need it.”
The province, through BC Housing and the Community Housing Fund, invested about $4.9 million to make the project a reality, with the building representing 46 of 470 affordable units in the Okanagan-Similkameen provided by the province since 2017.