92 units of supportive housing is now open at the Lux in Vancouver’s Downtown Eastside for people who are dealing with addictions, mental health and at risk of homelessness. This was made possible by funding from federal, provincial and community partners.
The federal government, through Canada Mortgage and Housing Corporation (CMHC) has provided a $4.75 million grant and the project as a whole has received finding in the form of a $2.86 million CMHC insured mortgage.
British Columbia has also provided $12.88 million towards the capital costs through the Provincial Homelessness Initiative and will be providing an ongoing operational subsidy.
The City of Vancouver has provided the land, a value of $855,000 as a no-charge 60 years lease and $1.05 million for the commercial units.
Vancouver Coastal Health will also be providing annual operational funding to administer programs and support services to tenants. This includes life skills education and local health service guidance.
Managing and supporting the Lux is RainCity Housing and Support Society. They will also be providing innovative, outcome oriented programs and services for people living with mental illness, addiction and any other challenges.
British Columbia has committed to creating more than 4,000 new housing units under the Provincial Homelessness Initiative.
RainCity Housing and Support Society’s the Lux is located at 65 East Hasting Street in Vancouver’s Downtown Eastside. This nine storey concrete building will comprise of 67 self contained studio apartments for people who are able to live fairly independently and 25 apartments for those who need additional support to transition into more independent housing.
This building will be staffed 24 hours a day; 7 days a week and the ground floor are retail commercial spaces.
Canada’s Economic Action Plan builds on the commitment the Government of Canada made in 2008 of more than $1.9 billion over the next five years to improve and build new affordable housing and help the homeless.
Jeff Markewich
Broker of Record with InfoMarket Group GMAC Real Estate
www.imgrealestate.ca
