PAL Vancouver News Release
November 5, 2008-11-05

 


November 5, 2008

 

CMHC recognizes Performing Arts Lodge as
leader in affordable housing

Vancouver’s Performing Arts Lodge (PAL Vancouver), a $20.7 million 111-unit, mixed-income housing project in Coal Harbour for seniors and disabled persons in the professional performing arts, won a prestigious Canada Mortgage and Housing Corporation (CMHC) award on Monday for best practices in affordable housing.

“This award recognizes the importance of bringing together creative, multi-sectoral partnerships to help finance these kinds of innovative affordable housing projects. I’m proud that the City was able to provide funding and a long-term lease that helped get this exemplary project off the ground,” said Mayor Sam Sullivan.
 
The City of Vancouver contributed to the project through funding and a no-cost 60-year land lease, and the Province, through grants and assistance.
 
“This award is a tribute to the imagination, hard work, commitment and generosity of Vancouver’s performing arts community, and our many friends and supporters.  I was very moved to discover that the winning projects shared a common theme: that affordable housing is much more than floors, walls, heating and plumbing. It is about building community, with the resulting restoration of hope, possibility, independence and above all dignity of those involved,” said Jane Heyman, PAL Vancouver co-founder and Board President.
 
The CMHC Housing Awards are given out every two years to recognize outstanding accomplishments in furthering housing affordability in Canada. A guide on best practices in developing mixed use housing is being planned by award recipients.
 
Amongst noteworthy features at PAL are a rooftop garden and multi-purpose theatre that provide a venue for residents’ creativity.  PAL’s Angels, volunteers from the performing arts community, give personal support services such as assistance with shopping, light housekeeping duties and companionship.

 
For more information:

Corporate Communications                                                                       Ellie O’Day
604.871.6336                                                                                    PAL Vancouver
                                                                                                        604 731-3339

BACKGROUNDER
VANCOUVER PERFORMING ARTS LODGE

PAL, which opened the lodge at 581 Cardero Street in May 2006, is a B.C. non-profit organization, created to provide and sustain quality affordable housing with support and creative options primarily for seniors and the disabled in the professional performing arts and allied industries.
 
The eight-storey building at Cardero and Hastings Streets contains 111 units: 12 two-bedroom life-lease suites and 99 affordable one-bedroom rental suites. The development’s amenities include a 100-seat theatre for residents, which is also available for rent to the wider community, and a rooftop garden. Eighty per cent of the one-bedroom suites are occupied by low income residents and enjoy varying amounts of rental support from PAL.
 
Rental costs for the 99 one-bedroom units range from $450 to $1,100 per month. PAL Vancouver’s initial fundraising efforts helped address capital development costs, enabling PAL Vancouver to further reduce rental costs to residents.  More recently PAL has initiated a fully integrated fund development program to ensure long-term affordability of the suites.

PAL represents a community response to the urgent situation facing Vancouver’s pioneering arts professionals. With seniors in the performing arts earning half the average income of all other Vancouverites over the age of 65, affordable, secure housing is in high demand.  
 
Partnership contributions

The capital cost of this development is $20.7 million.

• The federal government through Canada Mortgage and Housing Corporation provided $250,000 under the Canada-BC Affordable Housing Agreement.
• The Province provided $385,000 in grants, and assistance with arranging the mortgage financing.
• The City of Vancouver provided “air space parcel” 60-year lease, valued at approximately $5 million, for a nominal amount, as well as $1 million in matching grants.
• PAL raised $5.2 million from the sale of 12 life-leases and contributions from various unions and professional associations, including $310,000 from the Union of BC Performers, $300,000 from the International Alliance of Theatrical Stage Employees Local 891, $60,000 from ACTRA Fraternal Benefit Society, $25,000 from the Directors Guild of Canada, $25,000 from the B.C. Council of Film Unions, and many foundations and individuals.