Elkford’s long-awaited affordable seniors housing complex has opened its doors with 25 new rental units aimed at residents who are 55 and older.
Mayor Steve Fairbairn says this project is a welcome addition to the community.
“It allows seniors to leave their homes and downsize while staying in Elkford. I can see this opening up a number of residential homes that can be occupied by families,” said Fairbairn.
The provincial government provided approximately $2.8 million to the four-storey apartment complex.
“Seniors and people living with disabilities deserve to live in a stable environment, and by building accessible, adaptable homes in Elkford, we are ensuring that we are building housing for everyone,” said Ravi Kahlon, Minister of Housing and Municipal Affairs.
“This is another example of how our government is building homes at a historic rate and providing accessible and affordable options for seniors to age in the community they love.”
The building features 25 one-bedroom apartments, including three accessible and 22 adaptable units, located at 214 Alpine Way, near Elkford’s downtown core.
“We have a number of people who have been very patient. They see it as the next step in their accommodations,” said Fairbairn.
“I’m really excited for the (Elkford Housing Society), they put in an awful lot of work and jumped through amazing hurdles.”
The Elkford Housing Society (EHS) will operate the building, with rent prices ranging from $445 to $1,300 a month, depending on income.
“After several years of planning and building, the Elkford Housing Society is excited to welcome tenants to the Elkford Senior Housing,” said Dean McKerracher, chairperson, EHS.
“The society wishes to thank all of the partners who worked with the society for making the Elkford Senior Housing a reality.”
The project was initially introduced over a decade ago, when McKerracher was Elkford’s mayor.
“It’s a much-needed facility, and we could definitely use more housing. We’re short on housing in Elkford,” said McKerracher.
“We have six new residents after the open house, so we’re very excited about that. This is the first building in Elkford with an elevator and the first to have an underground parkade. It’s also the second building I’ve been involved with that has solar panels.”
McKerracher says the solar panels will add energy to the BC Hydro grid, which will be paid to the EHS each year.
The building was funded through multiple sources, including the B.C. government (nearly $3 million), the Canada-British Columbia Bilateral Agreement ($975,000), the Canada Mortgage and Housing Corporation’s Affordable Housing Fund ($12,676,665 – repayable $10,801,665 mortgage loan and forgivable $1,875,000 mortgage loan), the Columbia Basin Trust ($650,000 for capital expenses and $85,000 for solar panels), the Regional District of East Kootenay ($520,000), the District of Elkford ($29,000), Teck Coal Ltd. ($1 million, and land donation valued at approximately $450,000), the Elk Valley Community Thrift Shop ($10,000) and fundraising donations ($84,000).
Fairbairn says the building would not exist without external funding.
“If you take the costed build and you divide that by the number of units, you’re looking at a market value of about $625,000 per unit. It is not a viable project from an economic standpoint,” said Fairbairn.
“If it weren’t for millions of dollars of donations and grants, this would not work. That’s a sad state of affairs for housing in this province and in this country. It is shameful, and I don’t know who is to blame.”
McKerracher says the building will start welcoming new residents in July.
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