Expression of Interest sought for social housing developmentsPosted
These transfers are part of the Non-Profit Asset Transfer program initiated in 2014 with the goal of strengthening the non-profit sector that already manages 90% of social housing in British Columbia.
These actions will not affect tenants. There will be no change in rents as a result of these transfers, and the total number of units will remain the same.
Net proceeds from the asset transfer program will be reinvested into the construction of new affordable housing projects or the repair and renovation of existing projects. The Province recently announced that $355 million generated from this program will be used to create upwards of 2,000 new affordable housing units across B.C.
Respondents will be required to demonstrate they have the expertise and resources to maintain the current level of programs and services provided to the tenant communities and ensure the long-term viability of the social housing development to meet the needs of low-income seniors and individuals, many of whom are living with disabilities.
Through the REOI, a short list of candidates will be established. Those candidates may be invited to submit a detailed proposal and participate in a Request for Proposal process at a later date.
Sunset Tower I and Sunset Tower II were built in 1967 and are located in the West End of Vancouver at 1650 Haro St. and 1655 Barclay St. respectively. The two high-rise apartment buildings have a total of 492 units for seniors and people with disabilities.
Ted Kuhn Tower was built in 1972 and is located in Surrey at 13350 Old Yale Rd. It is comprised of 245 units for seniors and people with disabilities. Ted Kuhn Tower Extension was built in 1976 and is located in Surrey at 13352 Old Yale Rd. It includes 189 units for seniors and people with disabilities.