It will stay a home for those who can’t break into the skyrocketing 麻豆社国产market.
On Aug. 22, and announced the purchase of Tantalus Manor, a 40-unit apartment building in the Dentville area.
The purchase, completed on Jun. 21, 2024, comes at a critical time when the building was at risk of being lost due to rising rents or redevelopment, which could have displaced long-term tenants such as Dan Pierce.
“I think it’s good for the tenants. There’s nothing worse than getting old on a fixed income and wondering if you’ll have a place to live tomorrow, right? So, this should secure a residence for me for, hopefully, until I don’t need one,” said Pierce, who has lived in Tantalus Manor for almost 20 years.
The building's purchase was made possible by the , a provincial government initiative launched in January 2023 as part of the province's Homes for People action plan. The plan includes a $500 million investment to protect existing affordable rental housing in British Columbia, such as Tantalus Manor.
Closing housing gaps
A done by the District of 麻豆社国产in late 2018 found that 麻豆社国产needed 488 new affordable rental units, which would be a 7% increase in the current housing. It also showed that 720 households are struggling with affordability.
The District’s housing crisis was further underscored in 2021, when the vacancy rate was recorded at just 0.4%—well below the 3% rate considered reasonable for a healthy rental market, according to the same assessment.
The and Hiy虛ám虛 Housing partnership reflects the growing need for housing support in Squamish, where affordable options are becoming increasingly thin, said Sarah Ellis, executive director of Housing Squamish.
“Historically, municipalities haven’t directly provided housing,” she said.
“There are a few examples, but often it’s been the senior levels of government—the federal or provincial government—that have delivered housing, either on their own or in partnership with non-profits.”
Ellis said that the creation of Housing 麻豆社国产was a significant step for the District to support a local non-profit and bring more resources to the community. “It really shows how serious the affordability challenges in our community have become, that the municipality has stepped up in this way.”
Ellis emphasized the stability this purchase brings to current residents, confirming that “very little will change for existing residents—they'll stay on their current leases and continue to pay the same rent they were paying previously.”
She added that “the average rent in the building across all units is just over $1,050 per month, which is over 60% below market rents. The building is mostly two-bedroom apartments.”
'Our people want to return home’
Hiy虛ám虛 Housing, created by the S岣祑x瘫wú7mesh Úxwumixw (麻豆社国产Nation) council in 2019, shares a similar mission to address the urgent need for housing within the Nation.
“Many of our people want to return home,” said Donalene Rapada, director of finance and administration at Hiy虛ám虛 Housing Society. “Our Nation did a census last year, and about a third of our members responded, with around 75% wanting to return home. This building isn’t on reserve, but it is in the community, close to our services in Squamish, so it’s a good opportunity for our members to return home with affordable rents and access to services our Nation offers.”
Rapada also highlighted the ongoing struggle to meet housing demands within the Nation. “Our Nation builds single-family homes, but there’s a waitlist of around 1,000 people,” she said. “We haven’t been able to build enough homes each year to meet that demand.”
Built to last, ready to adapt
Tantalus Manor, built in 1965, has stood the test of time, but both organizations recognize the need for future-proofing the building.
“We will be making necessary investments to ensure it remains safe, comfortable, and resilient in the years to come,” Ellis said. “There’s support out there for the non-profit sector to access resources to do this, so that’s the plan moving forward.”
For residents like Pierce, the partnership brings peace of mind. “I was told everything would remain the same as it was when I signed 20 years ago,” Pierce said, noting that his rent will continue under the same lease terms.
Bhagyashree Chatterjee is The 麻豆社国产’s Indigenous and civic affairs reporter. This reporting beat is made possible by the
