Province and City Support Affordable Seniors Housing

Prince George, BC, Canada / CKPG News
Province and City Support Affordable Seniors Housing

The Province of BC has come to the aid of seniors housing in the city. Four million dollars has been earmarked for BC Housing to purchanse 33 units, while it has provided $3.8 million in financing so the non-profit organzation OnCore could buy the remaining 33 units.
Mayor Lyn Hall didn’t mince words when he called the development and the support that comes with it “A huge deal for Prince George.”
“We talk a lot about about retaining young people in Prince George. But the second focus is keeping seniors in Prince George.”
And the City put its money where its mouth is, providing $265,050 in development cost charges relief, an affordable housing grant of $855,000, a 10-year municipal tax exemption on the assessed value of
improvements, as well as reductions in up-front development costs.
This is the third mixed development of this sort for A&T Ventures.
“The project would not have worked without the innovation of the City of Prince George through development cost-charges relief and tax incentives, plus fast-tracking the zoning and approval process. The Province took a leap of faith with this model and stood behind this project all the way,” says Frank Quinn with A&T Ventures.
The complex is a combination of 66 affordable housing units and 109 markets housing units.


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