KAMLOOPS – The Province, through BC Housing has purchased a vacant apartment building at 435 Cherry Ave.
This vacant apartment building could have otherwise been redeveloped and converted to for-profit housing.
The building has 42 apartments, ranging from studios to two-bedrooms, and will be made available to low- and moderate-income families, seniors, individuals, and people living with disabilities. Renovations are required due to a fire inside the building in 2021.
The Cherry Avenue site is centrally located on Kamloops’ North Shore, close to major transit routes and shops and services at North Hills Shopping Centre, with easy access to Thompson Rivers University and the Royal Inland Hospital.
BC Housing bought the property for approximately $12.8 million through the Affordable Rental Housing fund. BC Housing will own the building and is in the process of selecting a society to manage it.
Renovations are expected to take approximately six months, with an aim of having tenants move in at the end of summer 2023.
Business Examiner Staff