With help from B.C. Housing, Oncore Seniors Society buys North Shore apartment complex

KAMLOOPS — The provincial government announced that BC Housing is providing approximately $10.1 million to Oncore Seniors Society to finance the purchase of the five-storey Silvercrest Suites building located at 154 Vernon Ave. in Kamloops.

In a news release issued Wednesday (May 11) morning, the province says the partnership will ensure the building won’t be sold to a private developer and preserve 53 units of affordable rental housing for seniors. The federal government, through the Canadian Mortgage and Housing Corporation, is also contributing approximately $830,000 toward the purchase.

Oncore Seniors Society assumed ownership and operation of the building. The province says current tenants will not be displaced by the acquisition and monthly rents will remain the same.