AFFORDABLE SENIORS' HOUSING COMPLEX OPENS IN VICTORIA

June 26th, 2008

VICTORIA – The Province and community partners are providing Victoria seniors with more affordable housing options with the opening of Parry Place, a new 21-unit assisted living development.

“Seniors are living longer, healthier lives and our government is committed to promoting their independence through affordable housing options,” said Oak Bay-Gordon Head MLA Ida Chong. “Projects like Parry Place enrich the lives of seniors by providing apartment-style living that is close to family, friends and the full services of a community like Victoria.”

Parry Place is funded through Independent Living BC, a provincial program that provides housing and support services for seniors and people with disabilities. Assisted living homes are self-contained apartments with a 24-hour response system. Residents receive personal care services such as assistance with medication, housekeeping, meals, laundry services and recreational opportunities. The Vancouver Island Health Authority is providing annual operational funding for personal care services and associated health-care services.

“Most seniors in our communities do not want or need 24-hour care in a hospital setting,” said Jac Kreut, Vancouver Island Health Authority board chair. “Assisted living adds to the range of housing and care options currently available, which suits a growing population of seniors who are able to live independently with the right supports.”

The Real Estate Foundation of BC, the City of Victoria, Beckley Farm Lodge, the Regional Housing Trust Fund and the Capital Region Housing Corporation are also project partners.

“The Parry Place project is in keeping with the City of Victoria’s Official Community Plan objective to support public and private initiatives that provide good quality housing for elderly Victoria residents who are in need of assistance,” said Victoria Mayor Alan Lowe. “By working in partnership with the community and the Province, we are achieving an increase in our community care capacity for seniors, which is the hallmark of a responsible community.”

“The Real Estate Foundation of BC is committed to supporting sustainable real estate and land-use practices for the benefit of British Columbians,” said Jack Hall, chair of the Real Estate Foundation of BC. “Parry Place meets this goal by offering homes that promote greater well-being for seniors in their own community.”

Parry Place is owned and directly managed by the Capital Region Housing Corporation, a non-profit housing provider offering affordable housing for people with low to moderate incomes.

“We believe that our local seniors should have the option to remain in their community as their care needs change,” said Amy Jaarsma of the Capital Region Housing Corporation. “The development is an innovative and progressive model of housing and care, and we’re pleased to welcome its new residents.”

These new units are part of the British Columbia government’s commitment to provide 5,000 net-new residential care beds, assisted living units, and seniors’ supportive housing with home support units by the end of 2008. As of March 31, 2008 the Province has opened 10,135 new and replacement beds, including 4,538 net-new beds/units. In addition, there are 1,168 beds/units under construction.

The Province has exceeded its commitment in providing more than 4,000 affordable assisted living apartments for B.C. seniors and persons with disabilities. Budget 2008 increased the amount the Province invests in affordable housing and shelters to more than $380 million a year, more than three times as much as in 2001.

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BACKGROUNDER
PARRY PLACE

Parry Place, at 408 Parry Street in Victoria, provides 21 units of assisted living under the Independent Living BC program. The units are spacious one-bedroom suites with a kitchenette, microwave and fridge. The new development also includes one elevator and a dining room with a patio. Parry Place is fully wheelchair accessible, with two units built for full wheelchair use. Residents receive two meals daily, weekly housekeeping and linen services, 24-hour response, personal care services, and social and recreational opportunities. Beckley Farm Lodge provides meals to Parry Place residents.

PARTNERSHIP FUNDING
The capital cost of this development is $6,308,575

The Province provided a grant of $671,156 and $4.5 million in mortgage financing
Capital Region Housing Corporation provided $79,529 towards construction consultant fees
Parry Street Developments donated a portion of the land equity at a value of $145,000
The Regional Housing Trust Fund contributed $300,000
The City of Victoria provided $55,000
The Real Estate Foundation provided $200,000
Beckley Farm Lodge provided $40,000 towards consultant fees
The Shoal Point Corporation provided $286,171 towards construction costs

Operational funding includes the following:

The Province is providing housing and hospitality subsidies of up to $4,374,421 over 35 years
The Vancouver Island Health Authority is providing annual operational funding of up to $224,000 for personal care services
Beckley Farm Lodge is providing hospitality services

Capital Region Housing Corporation
The Capital Region Housing Corporation is a non-profit provider of over 1200 rental units of affordable housing in the Capital Regional District of Victoria. The Corporation provides affordable housing for families with low to moderate incomes; seniors with low to moderate incomes; and persons in receipt of a disability income.

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Media contacts:
Rhonda Nguyen
BC Housing
604 439-4740

Shannon Marshall
Vancouver Island Health Authority
250 370-8270

Celina Owen
Real Estate Foundation of BC
604 688-6800 ext. 103

Amy Jaarsma
Capital Region Housing Corporation
250 388-6422

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