Housing Squamish says it has leveraged just under $1.5 million in District of Squamish funding into nearly $11 million in partner investments, according to its first annual report to the District.
In a press release on Nov. 20, Housing Squamish said it now has 100 homes in the planning phase and 48 homes under management one year into its five-year partnership with the District. That portfolio includes 40 homes owned in partnership with Hiyá̓m̓ Housing.
The report highlights progress on several projects. Housing Squamish said it advanced plans for 100 affordable homes for families and seniors on Government Road in the Northyards neighbourhood, including a funding application to BC Housing’s Community Housing Fund. The Society also moved ahead with plans for an energy retrofit at Tantalus Manor and applied to the Canada Mortgage and Housing Corporation’s Canada Greener Affordable Housing Program for up to $5.5 million, the report says.
According to the Society, access to land remains one of the biggest barriers to launching new projects. Housing Squamish says early engagement from the District on land-use, partnerships, and discussions with developers will be critical to advancing new affordable housing projects.
On the operations side, Housing Squamish reported that it fully leased eight family homes at Highline, including three homes for single-parent households. It also partnered with Diamond Head Development to lease 34 below-market rental homes at the Artemis on Finch Drive.
The Society said it has also submitted offers to purchase two rental apartment buildings and is working closely with funders to support future acquisitions. Internally, it strengthened governance and financial policies, expanded capacity and completed its first set of audited financial statements.
“Creating affordable housing takes time, strong partnerships, creativity, and resources,” Executive Director Sarah Ellis said in the release. “There’s no silver bullet. With patience and a long-term focus, we are laying the foundation for housing that will serve Squamish residents for generations.”
Looking ahead, Housing Squamish plans to pursue more strategic acquisitions and developments and to support District policy development by sharing its experience implementing housing agreements. The Society added that ongoing support from the District, partners and the community will be key to delivering more affordable housing options in Squamish.
