A proposed development by the Squamish Senior Citizens Home Society could triple the District’s capacity of affordable housing for seniors, but it would also mean rent going up for existing tenants.
The replacement of the society’s aging buildings at The Cedars and The Manor has been in the plan for the past eight years.
The society has recently entered into an expression of interest with Polygon Homes to build a five-storey complex with 232 units.
The new building would go up on a vacant lot owned by the society, located at 38275 Third Ave., and residents in the existing properties would be relocated to the new building.
The non-profit’s current properties, built in the 1970s, have 70 units altogether. Laura Modray, the administrator of the society, said the demand for the affordable rentals is high, with 130 people on the waitlist.
“It can take anywhere from one and a half to three or four years for someone to get a unit,” she said.
“I’m hoping to get my waitlist completely clear.”
The society is a nonprofit that offers independent living and affordable rentals for seniors, age 55 and over.
While rent in the buildings varies by income level and subsidies, Modray said the average tenant at The Manor pays $450 including utilities for a bachelor apartment.
The average cost for the limited number of one-bedroom rentals in The Manor is closer to $660.
The new complex would be made up of one-bedroom units that have double the square footage of most of the existing rentals. Although they would remain affordable compared with market rates, Modray said rents will have to change.
“They will not stay the same, unfortunately, we wouldn’t be able to afford to do that,” she said.
The new building will have two-tier rental rates, which haven’t been finalized yet. Modray said the lower rent will be in the $740 range, but the government subsidies would bring that cost down to closer to $570 for eligible residents.
The second-tier would be around $1,000 for a one-bedroom.
“They will still be very affordable,” she said, adding that society is committed to helping tenants make the transition, including applying for SAFER subsidies, which are only available to residents over 60.
Modray said there may be a small number of residents that won’t be able to make the transition, because of ineligibility for subsidies. She’s hoping they will be able to apply to the Under One Roof project.
“As a community, we’re all starting to work closer together to make sure that all the people on the continuum of housing, their needs are being met,” she said.
“I’m optimistic that it won’t be a problem, we’ll be able to find something else for them.”
As a condition of the build, Polygon would pay fair market value for the lot at 38201 Third Ave., the current location of The Cedars and The Manor.
The buildings would be torn down to allow for redevelopment to allow a six-storey apartment with commercial space and 175 market-priced units.
“We’re on our way,” said Modray. “We still have some things to figure out, but our society is very optimistic that this will come to fruition. So far our relationship with Polygon has been really positive and they’ve been great to work with.”
On Oct. 3 members of council discussing the proposal at a committee meeting cited concerns about the limited land currently zoned for seniors housing.
They also expressed concerns about affordable housing units in the new market rentals, but staff said amenity contributions from the developer are still up for discussion.
The approval for the two projects is still in early phases.
