Place strategy

Opening of Albert Place 2 creating more affordable rental housing in Vernon

Families and seniors in Vernon have access to 29 additional affordable rental units for low-to-moderate income households with the opening of Albert Place 2.

“Affordable housing is essential to building strong and healthy communities. That’s why we’re tackling the housing shortage with new affordable housing for those who need it most,” said Harwinder Sandhu, MPP for Vernon-Monashee. “Our government knows that many families and individuals need quality affordable housing, and opening projects like this is one of the ways we are helping to improve the lives of British Columbians.

Albert Place 2 is the second and final building in the Albert Place housing project, which offers 47 affordable rental units for seniors and families in Vernon. Located at 3610-25th Ave., the new homes are close to public transportation, grocery stores, a senior center and daycare.

Monthly rents for new homes range from $420 to $1,676, depending on unit size and tenant income. Some units will be rented to very low-income households, such as those receiving income assistance. Others will target low- or middle-income households.

These homes were built through a partnership between the province, through BC Housing, the City of Vernon and the Canadian Mental Health Association (CMHA) – Vernon and District Branch, which operates both Albert Place and Albert Place 2.

“One of the City Council’s top priorities over the past four years has been creating more accessible and attainable housing for Vernon residents and this project is just one example of how we are taking action” , said Vernon Mayor Victor Cumming. “The Albert Place expansion includes a variety of housing types to provide safe and affordable housing for seniors and families within walking distance of major services, activities and parks. The city is grateful for its partnership with the province, BC Housing and CMHA to see this project come to life.”

The province, through BC Housing, has invested approximately $3.1 million in the project through the Building BC: Community Housing Fund and will provide $265,600 in annual operating funding. Albert Place 2 received $250,000 under the bilateral agreement between Canada and British Columbia under the National Housing Strategy.

CMHA Vernon and the District Branch provided the land for the building, valued at approximately $372,000. The City of Vernon waived $208,000 in development costs.

The project is part of British Columbia’s 10-year, $7 billion housing plan. Since 2017, the province has funded more than 36,000 new affordable homes in British Columbia that are complete or under construction, including more than 600 homes in Vernon.