A heritage building gets a new lease on life with Vancity's help

A heritage hotel project owned by Porte Industries and for which Vancity provided financing is one of those deals where the project’s ultimate value can’t be assessed by a simple dollars and cents calculation. The rent needed from each of the 72 rooms to qualify for project financing would have exceeded any measure of “affordable housing” in the city’s Downtown Eastside. The solution was to bring in Atira Property Management, a wholly owned subsidiary of Atira Women’s Resource Society. All profits from Atira Property Management are used to fund the Society’s housing and support programs for women, and their children, who have been impacted by violence. Thanks to the commitment of all parties to affordable housing in the district, 72 people now have a much better place to live and a heritage class building gets a second lease on life.

Note: The name of the building cannot be disclosed, and photos cannot be taken for this story, for the safety of the women and children living there.