Sean Rhodenizer, a resident of an affordable housing complex in Vernon, B.C., was concerned when he learned that his building was going up for sale. However, the 26 affordable units were saved thanks to B.C.’s Rental Protection Fund, which provides one-time capital grants to non-profit housing organizations to purchase affordable housing buildings. The fund provided $3.1 million for the purchase of Sunrise Gardens, with the remaining $40,000 coming from the Canadian Mental Health Association (CMHA) in Vernon. CMHA will now own and operate the building, keeping rents affordable.
Julia Payson, executive director for CMHA Vernon, emphasized the importance of not displacing tenants, citing her own experience of rental insecurity in her younger days. The Rental Protection Fund program highlighted that B.C. has lost nearly 100,000 rental units below $1,000 per month between 2016 and 2021. For every new affordable rental home built in B.C., four more are lost to investors, conversions, demolition, and rent increases, exacerbating the demand for affordable housing supply. The provincial government has called on the federal government to support the program financially.
Housing minister Ravi Kahlon acknowledged the limitations of the provincial government’s budget in comparison to the federal government’s resources, expressing the potential for greater impact with federal support. Residents of Sunrise Gardens will not only retain their affordable homes but will also receive a renewal grant of $47,000 for upgrades to each unit. CMHA has developed a 20-year plan for the building’s improvements, including exterior and interior work as well as heating and ventilation upgrades. This comprehensive plan aims to enhance the quality of living for residents over the next two decades.
The support provided by the Rental Protection Fund is a crucial step in securing affordable housing for current and future residents of B.C. The program aims to counteract the loss of affordable rental units and address the growing demand for affordable housing in the province. The acquisition of Sunrise Gardens by CMHA Vernon exemplifies the positive impact of the fund, ensuring that low-income residents can continue to afford their homes without fear of displacement or rent increases. The combination of government funding and non-profit ownership allows for long-term planning and sustainable management of affordable housing complexes.
For Sean Rhodenizer and other tenants of Sunrise Gardens, the news of the building’s acquisition and planned renovations brings relief and optimism for the future. The commitment to maintaining affordable rents and improving the quality of housing demonstrates a proactive approach to addressing the housing crisis in B.C. By investing in initiatives like the Rental Protection Fund and collaborating with non-profit organizations, the government can make significant progress in ensuring that affordable housing remains accessible to all residents. The success of programs like these serves as a model for addressing housing challenges and creating more inclusive communities across the province.
