VANCOUVER — The Government of British Columbia has purchased a 115-unit building and is set to open a 95-unit building in the City of Vancouver.
The 115-unit building at 1450 West 12th Ave. will be used to provide supportive housing and was purchased for $40.5 million. Approximately $4.1 million in fees are associated with the purchase closure and an extra $10 million has been set aside for building renovations, a news release reads.
The 95-unit building is a Gastown single room occupancy hotel that will house people from Hastings Street shelters and people in need of stable housing, as well as 25 residents displaced by a 2022 fire that damaged the building.
“We are taking action to find homes for those who live in Vancouver’s Downtown Eastside. With the West 12th purchase, this is another 115 units that will help break the cycle of homelessness for people on East Hastings and in Crab Park,” said Ravi Kahlon, minister of housing, in the release.