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VANCOUVER – Seniors, families and individuals in Vancouver now have access to 114 new affordable homes with the opening of Powell Horizons, a new mixed-use building in the Downtown Eastside community.

The project at 508 Powell St. is the result of a partnership between the province, through BC Housing, the federal government, through the Canadian Mortgage and Housing Corporation, the City of Vancouver and Lookout Housing and Health Society.

Operated by Lookout, the seven-storey building includes affordable homes on floors three to seven, with a mix of micro-dwellings, studios and one-, two- and three-bedroom units. Residents will also have access to two amenity rooms and communal lounges. Commercial spaces occupy the second floor, a release reads.

On the first floor, Lookout’s Powell Street Gateway Resource Centre offers more than 7,500 square feet of space for programs, classes and services that promote health, learning and connection, including a commercial kitchen.  

The province is providing more than $10 million from the Building BC: Community Housing Fund and approximately $344,000 in annual operating funding.  The federal government, through the Affordable Housing Fund, is investing nearly $35.9 million and the City of Vancouver contributed approximately $3 million from the Community Housing Incentive Program.