Construction begins on seniors' housing complex
Construction is now underway on a 64-unit affordable-housing complex for seniors.
The complex, located at 33585 and 33580 Braun Ave. in Abbotsford, will be operated by Lynnhaven Society and features two four-storey wood-frame buildings with 32 studio units each.
The new development will replace a 40-unit building for seniors currently operated by Lynnhaven Society on Lynn Avenue. That building was constructed in the 1950s and is in rough shape.
The Braun Avenue site was originally owned by Algra Brothers Developments Ltd., which exchanged ownership of that site for the society's Lynn Avenue site.
Construction is expected to be complete by spring 2014.
The federal government is providing a $20,000 Seed Funding Grant and Proposal Development Funding of $50,000 through Canada Mortgage and Housing Corporation.
The provincial government will provide $47,000 and arrange approximately $4 million in long-term financing.
The City of Abbotsford provided $320,000 in equity, and the Lynnhaven Society provided the land valued at over $2.7 million and $5,000 in equity.
Established in 1957, the Lynnhaven Society is a non-profit society that provide affordable rental housing to seniors in need in Abbotsford.