New ground was broken in a variety of ways Thursday, July 22, as Squamish's first affordable housing project for seniors and persons with disabilities got underway.
The 84-unit Squamish Riverstone Development project, located at 39776 Government Rd., is also B.C.'s first housing project to be funded by federal government's Economic Action Plan. It is expected to be complete by the end of 2011.
MP John Weston, MLA Joan McIntyre, Mayor Greg Gardner, developer Michael Hutchison and Sea to Sky Community Services board president Shawn Jones -the organization tasked with running the facility - joined roughly 70 community members for a groundbreaking ceremony last week.
The cost for the project has been pegged at $14 million. Of this amount, $4.35 million was pitched in by the federal and provincial governments, while the Canada Mortgage Housing Corporation came up with $7.8 million by way of insured mortgage and interim financing.
Joining hands with the backers is the District of Squamish, which will amend its bylaw to waive development cost charges and other service charges. Bethel Lands Corporation, a local developer that helped build the project also contributed $1.4 million by reducing the cost.
At the groundbreaking ceremony, there was an air of jubilation as one speaker after another came forward to underline the effort that went into the project and the need for affordable housing.
"One thing I love about this project is that it's not just about innovation and vision, but it's about compassion. It's about looking to protect the people who have build our community, our seniors and making sure they have a place to stay here," said Weston.
McIntyre said the project has been in the pipeline for several years and she was glad to know the "now we can actually put a shovel here".
"It is so important that we have affordable housing for those who are on the lower end of the income scale and the seniors and those with disabilities who have difficult time in this day and age getting proper accommodations," she said.
Gardner commended the role of the city council as well as ordinary locals who galvanized their efforts to make the Riverstone Development project a reality.
The project is also expected to generate 141 direct and indirect jobs.
