The District of Lake Country has agreed to partner with a local non-profit developer Housing Okanagan Foundation (HOK) to support their application with BC Housing Management Commission (BC Builds) to deliver a new attainable seniors housing project in Lake Country.
To support the potential project, the District intends to lease District-owned property at 3151 Hill Road to HOK for a 65-year term below market value. The lease agreement is conditional on HOK obtaining funding approval however having the necessary land agreement in place will allow the proposed development to be “shovel-ready” if funding can be secured.
“Securing this partnership is a major step in our commitment to diversifying housing in Lake Country,” said Mayor Blair Ireland. “We often hear from residents that they would like to stay in Lake Country when they downsize, but there aren’t any options. By leveraging District land to support seniors' housing, we aren't just building structures—we’re ensuring our long-time residents can afford to stay in the community they helped build.”
A District housing needs assessment has identified a significant need for seniors’ housing in Lake Country. The proposed partnership is intended to help address this gap, pending Provincial approval and funding.
Under the contemplated agreement, HOK would be responsible for designing and constructing the building. Once completed, HOK would operate and maintain the project for the full term of the lease, ensuring the long-term upkeep and functionality of the development. At the end of the 65-year lease period, ownership of the land and all buildings or improvements would return to the District.