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Apr 9: Vancouver Peretz Institute and Vancity...

Vancouver Peretz Institute and Vancity Enterprises partner to create new harmonious development.

Vancouver, April 9, 2000 - For more than 50 years, the Vancouver Peretz Institute has played an immensely important role in preserving Jewish culture in Vancouver through educational and Yiddish programs for young and old alike. It also serves as a centre for the celebration of Jewish holidays from a secular perspective, as well as providing a home for dance, song, theatre and other community events. In addition, the institute works very hard to preserve historic materials of great educational and emotional value.

Vancity Enterprises is developing the institute's original site across from Tisdall Park. In exchange for the residential property, Vancity Enterprises will provide an attractive new 15,500 square foot two-story home for the institute and oversee its construction on the north end of the site. At the south end, Vancity Enterprises will develop The Grove - Westside City Homes at Oakridge, 36 upscale condominium residences priced from $188,000 - $390,000.

"For many years, we have needed a new building that is secure and better designed for our programs and we turned to Vancity Enterprises to help us find a way to fund the project and to build it," says Richard Rosenberg, president of the Vancouver Peretz Institute. "Our arrangement with Vancity Enterprises enables us to achieve our goal."

Vancity Enterprises is delighted to be working with the Vancouver Peretz Institute in creating a harmonious development that meets the needs of all stakeholders.

"The real estate expertise of Vancity Enterprises and its commitment to socially responsible developments is one of the key reasons the Vancouver Peretz Institute has placed its trust in us for this important project," says Dale McClanaghan, CEO Vancity Enterprises.

Vancity Enterprises, a wholly-owned 'for profit' subsidiary of Vancity Savings Credit Union, works in partnership with local groups and societies to successfully build projects which are financially viable and meet the needs of the surrounding community.