VANCOUVER—The City of Vancouver aims to renovate a hotel for affordable housing.
The hotel was purchased with the support of the federal government’s Rapid Housing Initiative program. The property, located at 205 Kingsway, will provide approximately 68 homes for people experiencing or at risk of homelessness.
The building is the second hotel that the city has purchased using $51.5 million provided by Ottawa.
It is the second hotel the city has used to address affordable housing. It will be managed by non-profit operators. The province will support the new housing with annual operating funding over 20 years.
“Supportive homes like the two Kingsway properties help people move inside and access the necessities of life such as food, washrooms and laundry, as well as connections to vital services,” reads a statement from the city.
Officials noted both purchased properties require renovations. It is anticipated that people will be able to move into 205 Kingsway in the summer and 2075 Kingsway will open to tenants in the winter.
Vancouver and BC Housing have also committed to build 350 permanent supportive units to provide long-term homes for people in the coming years, in addition to the nearly 1,000 supportive homes opened in Vancouver over the last three years.