The province has fast-tracked several projects, some with federal help, to create supportive housing in the capital region for people without homes or at risk of homelessness.
The properties, totalling more than $35 million, are expected to provide more than 300 units of supportive housing — and housing advocates say the public is being well served, even if governments are overspending.
Here’s what they cost:
225 Russell St. – 40 units
Purchased by the province for $9.3 million, including $8.1 million for land, buildings, design and construction costs for conversion of building to permanent housing and creation of temporary shelter for 70 people. An independent appraisal of the property valued it at $8.1 million.
865 Catherine St. – 45 units
Purchased by province for $2.35 million. An independent appraisal done in December valued it at $2.1 million. The slightly higher price paid reflects a quick closing date which was required to provide urgently needed housing.
959 and 953 Balmoral Rd. — 60 units
953 Balmoral Rd. purchased for $1.45 million, appraised in July for $1.568 million; details for 959 Balmoral Road have not been finalized
1053 and 1075 Meares St. – 50 units
1075 Meares St. purchased for $1.69 million and 1053 Meares St. for $1.547 million. Appraisal of combined land was $3,325,000 for the two parcels. The province paid $3,237,500 combined.
1176 Yates St. — 37 units
Purchased for $1.7 million. Appraisal completed Aug. 12 valued the land at $1.8 million
2933-2949 Albina Street – 52 units
Purchased by province for $3 million, slightly higher than the appraisal, according to B.C. Housing.
1909 Prosser Rd. – 39 units
Purchased by province for $13,467,200. Independent appraisal done Dec. 22 valued the site at $14,500,000.