Another hotel added to low-cost roster
Sun
The provincial government has bought another Downtown Eastside hotel to help protect low-cost housing stock.
A press release from BC Housing said the province paid $2.4 million for Tamura House, a 110-room unit at 398 Powell St.
The hotel is now owned by St. James Community Services Society. The purchase price is equal to the balance of the mortgage, the release states.
“By buying this hotel, we are ensuring the smooth transition of existing low-cost housing from one non-profit operator to another, and providing tenants the opportunity to live in a stable housing situation,” Rich Coleman, the minister responsible for housing, said in the statement.
The building will be managed by Lookout Emergency Aid Society, which already provides support to tenant in about 35 of the units.
© The Vancouver Sun 2008