From the BC Ministry of Housing

People living in Vernon will continue to have access to 26 affordable rental homes
made possible through a recent purchase from the Rental Protection Fund.
The Rental Protection Funds purchase of Sunrise Gardens in Vernon means 26 people will
continue to have deeply affordable housing in Vernon, said Ravi Kahlon, Minister of Housing.
The Rental Protection Fund has saved this building from being sold to the private sector or to
housing speculators, ensuring that these tenants will benefit from affordable rents for years to
come.
The building, Sunrise Gardens, located at 3806 24th Ave., was at risk of being sold.
Approximately $3.1 million came from the Rental Protection Fund to buy the building. The
Canadian Mental Health Association Vernon & District Branch (CMHA Vernon) provided
$40,000. CMHA Vernon will own and operate the building. The Rental Protection Fund is also
providing a renewal grant of $47,000 to each home to complete upgrades. Through this
purchase, the 26 homes will remain approximately 45% below the market rental rate in
Vernon. The homes are a mix of studio and one-bedroom units.
The Rental Protection Fund is also a rental resilience fund, said Katie Maslechko, CEO, Rental
Protection Fund. Investments like this one in Vernon not only breathe new life into a building
and ensure operational sustainability into the future, but for the residents that call it home,
freedom from housing insecurity that allows them new opportunities to thrive and build
wealth.
By supporting renewal and retrofits, the Rental Protection Fund will ensure that the building
remains viable and rents will not exceed Canada Mortgage and Housing Corporation average
rent for the community. CMHA Vernon will lead the repairs to the building, including
immediate upgrades to the exterior, landscaping and signage.
We are excited to partner with the Rental Protection Fund to preserve Sunrise Gardens as
much-needed affordable housing in the Vernon community, said Julia Payson, executive
director, CMHA Vernon. 􀍞Suitable and affordable housing contributes to our physical and
mental well-being.
The $500-million Rental Protection Fund provides one-time capital grants to non-profit housing
organizations so they can buy affordable residential rental buildings and co-operatives listed for
sale.
Quotes:
Harwinder Sandhu, MLA for Vernon-Monashee.
Vernon is growing as a proud community that looks after one another and with this purchase
more people will be able live near their families. This purchase by CMHA Vernon supported by
the Rental Protection Fund ensures that rents for these people will remain deeply affordable so
they can focus on life in the Okanagan without worry of increased finances. Our government is
committed to find and support several aspects to address housing needs, this is another
initiative we are happy to support, so more people in our community can benefit.

Jill Atkey, CEO of BC Non-Profit Housing Association.
Securing the affordability of these 26 homes couldn’t happen at a more critical time as more
and more renters are priced out of the rental market. The fund is not only securing affordability
for current residents, but for the hundreds and hundreds of residents who come after them
because affordability in the non-profit sector means affordability forever.

Victor Cumming, mayor, city of Vernon.
􀍞0We know that in order to address the housing shortage in Vernon, we need to create a wide
range of affordable housing options. Investing in this type of housing and partnering with nonprofit
organizations like CMHA Vernon provides safe and accessible homes close to vital
services. Make no mistake, this is a significant investment in preserving affordable housing
options in Vernon.

Chief Byron Louis, Okanagan Indian Band.
With affordable housing being such a rarity today, it is absolutely essential that local
governments continue to work in tandem with non-profits to ensure that affordable housing
options are retained and expanded. We’re happy to hear that the provincial government and
CMHA are working towards that goal.
Quick Facts:
The Rental Protection Fund has approved funding to preserve more than 1,200 homes
throughout the Province that will be announced in the coming months, with thousands
of additional homes under funding consideration.
The Rental Protection Fund has qualified 25 non-profit organizations and advanced 36
proposals for consideration.

For information about the Rental Protection Fund, visit: https://rentalprotectionfund.ca
To learn more about government’s new Homes for People action plan, visit:

https://news.gov.bc.ca/releases/2023HOUS0019-000436