Close to 70 new affordable homes are now available for low- to middle-income families and individuals as a new rental apartment building has opened in Mission.
Located at 7251 Cedar Valley Connector, Cedar Valley Suites provides 68 rental homes, including 53 market rental homes that will be affordable for households with annual incomes ranging between approximately $52,000 and $66,000.
Fifteen homes will be for people with low incomes, including seniors on fixed incomes. Monthly rents will range between $375 and $1,323.
The building will add much-needed rental supply to a community facing low vacancy rates.
“We are building new partnerships to create new homes like these so that people can afford to stay in their community,” said Bob D’Eith, MLA for Maple Ridge-Mission.
During an opening ceremony held Dec. 12, D’Eith told the crowd he has “had the opportunity to open a few facilities throughout the Fraser Valley and I’m really excited that I get to do one in my riding.”
He said a long period of inaction has created a need for more affordable housing.
“People in Mission, and throughout the region, really know, all to well, about the housing crisis and how it is affecting everyone.”
Cedar Valley Suites was purchased by the Lookout Housing and Health Society in September 2019 with support from a BC Housing program called the HousingHub, which was created by the province in 2018.
“Lookout is pleased to partner with BC Housing to provide 68 units of mixed-income rental housing in the District of Mission,” said Shayne Williams, CEO of the Lookout Housing and Health Society.
“The unit mix of one bedroom, one bedroom plus den and two-bedroom homes provides safe, affordable homes for fixed income seniors, single moms and low- to middle-income earners. The many community members who call Mission home are facing a severe rental housing shortage with less than 0.2% vacancy rates.”
The society will manage day-to-day operations of the building. The first residents have started to move into their new homes.
Mission Mayor Pam Alexis said the investment made in these homes means a lot to the community.
“We have struggled for so long with a zero per cent vacancy rate in our community. We have so many gaps in our housing continuum, I can’t tell you how desperate we are,” she said.