As a non-profit, Baptist Housing's unique partnership with BC Housing, the Ministry of Health through Vancouver Coastal Health, and the Federal Government through CMHC leverages the strengths of each partner to develop the most cost-effective Continuum of Care.
The project anticipates a contribution of $15.5M from BC Housing, $9M from CMHC for Affordable Housing, and more than $22M from Baptist Housing.
Upon completion, Baptist Housing will enter into operating agreements with Vancouver Coastal Health and BC Housing.
This acquisition and redevelopment through the partnership of Baptist Housing, BC Housing and Vancouver Coastal Health has an estimated total project value of approximately $500 million, including the $134 million property acquisition cost.
To take advantage of the financial support available from these partnerships, timely approval of the Inglewood redevelopment plan is needed to ensure the affordability of each component and the viability of the overall project.
Proceeding with this proposal now will seize on the window of opportunity that these partnerships provide to meet the growing demand for seniors care in West Vancouver.