Province buys three low-rent Penticton motels for affordable housing | iNFOnews | Thompson-Okanagan's News Source

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Province buys three low-rent Penticton motels for affordable housing

The province announced the purchase of the Meadow Lark, Sun Valley and Mayfair Motels on Skaha Lake Road today, May 27. The units will continue to be used for low cost housing.
May 27, 2021 - 1:00 PM

B.C Housing is providing more accommodations for those requiring affordable housing in Penticton.

The province announced today, May 27, the $7.9 million purchase of three motels that will add 103 affordable homes for people with low incomes in the city.

The three motels, located beside each other, include the Meadow Lark Motel at 2730 Skaha Lake Road, the Sun Valley Motel at 2784 Skaha Lake Road and the Mayfair Motel at 2824 Skaha Lake Road.

"The purchase of these motels will help ensure existing affordable housing in Penticton is maintained and improved so people can continue to live affordably and thrive in the community. We will continue to explore new and creative avenues like this one to help tackle the housing crisis and meet the needs of renters and homeowners across B.C.,” Attorney General and Minister Responsible for Housing David Eby said in a news release.

The three motels are currently in use as below-market, short term rentals. B.C. Housing will take over all 57 tenancy agreements at the motels and make minor improvements to the buildings, preserving much-needed affordable housing units in Penticton.

Residents currently housed in the three motels will not be affected by the purchase or renovations.

The province already owns Skaha Sunrise Apartments at 2872 Skaha Lake Road, an adjacent property which contains 46 low-income rental housing units in four buildings. The apartments have been identified as a candidate for redevelopment due to their age and condition.

All four properties will be used to provide affordable housing for people with low incomes.

An independent appraisal of the properties, made in April, supported the purchase price, the province said.


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