The Residences on 5th Address: 4444 5th Street, Peachland, BC

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Units Overview:

·         12 Two-Bedroom Units: 800 to 808 sq ft

·         46 One-Bedroom Units: 560 to 566 sq ft

·         15 One-Bedroom Accessible Units: 587 sq ft

·         Total: 73 Homes

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Project Partners:

·         Peachland Seniors' Support Society

·         BC Housing

·         CMHC

·         District of Peachland

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Anticipated Occupancy: Early 2026

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Rental Levels and Related Income:

1.      Deep Subsidy:

         o    Estimated Rental Rate: $500 per month

         o    Income Limit (2025): $23,549

2.      Rent-Geared-to-Income (RGI):

         o    Income Limit (2023): $49,500 (one bedroom) $65,500 (two bedroom)

         o    Rent set at 30% of BC Housing Housing Income Limits (HILS)

3.      Affordable/Below Market Units:

         o    Estimated Rental Rate: $1,450 (one bedroom) $1,850(two bedroom) Per month

         o    Income Limit per CMHC (2025): $85,870 (One-Bedroom)

         o    Income Limit per CMHC (2025): $138,770 (Two-Bedroom)

***Please note that rental rates are subject to change prior to the building opening.

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Tenant Selection Criteria:

       -Proximity to homelessness

       -Income/Assets

       -Location Considerations:

                  o   Currently residing in Peachland

                  o   Desire to move back to Peachland

                  o   Need to relocate to Peachland to be closer to family

         -Reference Checks

         - Applicant Interviews with housing provider