Kamloops News

BC Housing spent $74M in Kamloops last year

BC Housing spent $13 million on this North Kamloops apartment last year, taking up a significant chunk of the $74 million it spent in the city.

BC Housing spent $74 million in Kamloops in just one year. That's three times as much spending in 2023 as the Crown agency did in 2022.

BC Housing staff presented the figure to Kamloops city council last week, briefly explaining how that amount breaks down among its projects in the city.

They didn't point to any particular housing development or hotel purchase saying the majority of the spending last year was focused on social housing at $42 million.

READ MORE: Kamloops council dissatisfied with answers from BC Housing

That amount includes rent subsidies and affordable housing, which would include a $3.6 million land purchase for a yet-to-be-built seniors housing project on Campbell Avenue and the $13 million Cherry Avenue apartment building.

The fire-damaged Cherry Avenue building was purchased after it sat vacant for two years and it's now awaiting renovations after winter flood damage.

Along with the social housing funds, the provincial Crown agency spent $20.5 million in Kamloops on homelessness and shelters, while the remaining $6.4 million went to supportive housing, according to the presentation to council.

READ MORE: BC Housing has 83 housing units to show for $30M in Kamloops real estate in 2 years

The Crown agency has 308 new homes planned for Kamloops. That includes units that are under construction and others that are in early planning stages.

Another 673 units were completed in the span of six years, as of June 30, 2023.

iNFOnews.ca added up BC Housing's announced Kamloops real estate purchases in November, revealing $30 million in land, apartment and motel purchases over two years. That included both supportive and subsidized housing and just 83 units to show for it in that time.


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