Low-income housing planned for Downtown Eastside
Last Updated: Friday, December 8, 2006 | 11:29 AM PT
CBC News
A Downtown Eastside hotel will undergo a $2.4-million conversion to provide affordable housing, the province announced Friday.
The Pennsylvania Hotel will be transformed into a 44-unit housing development for low-income single people at risk of becoming homeless.
"The renovated hotel will provide new homes for low-income Downtown Eastside residents and is a great example of what we can achieve by working together,” Rich Coleman, minister responsible for housing, said Friday.
Tenants will pay rent of $325 per month for the 250-square-foot units in the Carrall Street building. B.C. Housing will provide nearly $200,000 annually in rent subsidies.
The interior of the building has been gutted and restoration work will begin in January, with completion expected early in 2008.
The ground floor of the building will be used for commercial and retail space.
Additional funding for the project is being provided by the federal government, the City of Vancouver and developer Concord Pacific.
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