Housing co-op moves forward
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Hey there, time traveller!
This article was published 21/01/2012 (5392 days ago), so information in it may no longer be current.
Construction crews will soon start work on a 34-unit affordable housing complex for seniors, which may be ready to move into in as little as a year.
It’s the first project for the Western Manitoba Seniors Non-Profit Housing Co-operative Ltd., which is tackling the need for affordable housing for the elderly.
“The need is there, there’s a tremendous need there,” co-op president John MacKenzie said during a groundbreaking ceremony held at Seniors for Seniors on Friday.
He said that need for affordable housing for seniors exists despite the general construction of new homes.
“The reality is, there’s many people that can’t afford to go in them,” MacKenzie said.
Mayor Shari Decter Hirst, Brandon-Souris Conservative MP Merv Tweed and Brandon East NDP MLA Drew Caldwell were among the officials at the ceremony.
Construction of the four-storey building at 620 McDiarmid Drive is expected to begin within a month and may be complete in a year to 18 months.
The project, which is estimated to cost more than $5.8 million, will consist of 14 one-bedroom units and 20 two-bedroom units.
The federal and provincial government also announced yesterday that they’ll chip in $2.03 million under the amended Canada-Manitoba Affordable Housing Agreement.
The province will also provide funding to supplement rent for six of the units, that will then be rented at a cost adjusted to the tenants’ income.
The non-profit co-op is described as the first of its kind in the province.
Tenants commit an upfront equity investment of $17,900 for a one-bedroom suite and up to $23,900 for shares in a two-bedroom suite.
The purchase of shares makes the tenant a member of the co-operative, which owns and manages the building, and will have a board of directors that includes tenants.
Tenants also pay a monthly fee of $590 for a one-bedroom unit and $740 for a two-bedroom suite.
When tenants move out, they receive their initial equity investment back.
Co-op vice-president Harvey Douglas said seniors find it tough to afford housing because their pensions and income aren’t high enough to cover rising expenses such as taxes and utilities.
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