PROVINCE TO SELL 11 AFFORDABLE HOMES FOR $135,000

June 26th, 2009

SALMON ARM – The Province will sell 11 two-bedroom strata apartments to qualified buyers as part of a unique affordable homeownership program in Salmon Arm, announced George Abbott, Shuswap MLA and Minister of Aboriginal Relations and Reconciliation.

“Our government has created a unique pilot program to make affordable homeownership a reality for low- and moderate-income households,” said Abbott. “This joint partnership with the Canadian Mental Health Association is a positive step towards creating affordable housing opportunities in Salmon Arm, which benefits the community by allowing people to put down roots.”

The Province purchased the property at 761 2nd St. S.E. in Salmon Arm, which contains two newly-constructed buildings: Foxcroft, which provides 11 two-bedroom strata-titled apartment units that will be offered for sale to qualified buyers who meet the eligibility criteria; and Foxridge, which currently provides 28 units of subsidized rental housing for adults with mental health issues and at risk of homelessness.

The Canadian Mental Health Association (CMHA) Shuswap/Revelstoke Branch will administer the homeownership program and waiting list at Foxcroft and operates the subsidized rental housing and support services at Foxridge.

“We are proud to play a role in creating this new affordable housing opportunity for Salmon Arm,” said Dawn Dunlop-Pugh, executive director, CMHA Shuswap/Revelstoke Branch. “As a member of the community, we know firsthand the needs of its residents and encourage other communities across the province to identify and pursue innovative housing solutions to meet their community’s housing needs.”

Interested buyers will be able to view two display suites onsite from July 2 to July 26, 2009, with open houses scheduled to run every Tuesday and Sunday from 1 to 4 p.m. and Thursday from 4 to 7 p.m. In addition, CMHA Shuswap/Revelstoke Branch is launching a website, www.foxcrofthousing.ca, with information and photographs to help people understand the program, eligibility requirements and sale process.

Potential buyers must complete an application either onsite or online prior to the deadline of July 31, 2009, at 2 p.m. Approved applications will be randomly selected and qualified buyers who are not drawn in the initial purchase opportunity will be placed on a waiting list for resale opportunities.

Through the provincial housing strategy, Housing Matters BC, the Province is investing more than $469 million in shelters and affordable housing this year, more than three times as much as in 2001.

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BACKGROUNDER

FOXCROFT AFFORDABLE HOUSING

Foxcroft, located at 781 2nd St. S.E. in Salmon Arm, is an affordable homeownership development that will provide strata units for sale to qualified buyers who meet the income and asset criteria.

Each of the 11 two-bedroom units in this two-storey building is approximately 800 square feet and includes five appliances. There are 16 designated parking stalls, including five visitor spaces. The building is located within five blocks of public amenities and services.

The Canadian Mental Health Association (CMHA) Shuswap/Revelstoke Branch will administer the homeownership program and waiting list.

The purchase price of each unit is $135,000, plus about $10,000 in closing costs including GST for a total cost of approximately $145,000.

A second building on the property, Foxridge, contains a mix of four studio and 24 one-bedroom units and provides subsidized rental housing for adults at risk of homelessness and living with mental illness. It will also be operated by CMHA Shuswap/Revelstoke Branch.

A website providing additional information is available at www.foxcrofthousing.ca.

PARTNERS AND FUNDING
The Province provided $5.5 million, the total capital cost of this development, through the Community Partnership Initiatives (CPI).

BASIC REQUIREMENTS TO PURCHASE
Qualified buyers must:

have a gross household income between $35,000 and $55,000;
have assets under $100,000;
have been a B.C. resident for the past year;
be a Canadian Citizen or landed immigrant;
be able to qualify for a mortgage;
be a primary resident of the strata unit; and
submit a completed application form by 2 p.m. on July 31, 2009.

CANADIAN MENTAL HEALTH ASSOCIATION SHUSWAP/REVELSTOKE BRANCH
CMHA Shuswap/Revelstoke Branch is part of the CHMA-National Division, one of 23 in British Columbia. Their primary goal is to develop support systems for individuals with mental illnesses, including life skills and pre-vocational training, socialization, job placement, counselling referrals, housing aid, community awareness and education. The society promotes mental health in the community and supports the resiliency and recovery of people experiencing mental illness.

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Media Contacts:
Darija Tomasic
BC Housing
604 456-8845
604 374-4534 (cell)

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