Langley Memorial Hospital Foundation has sold a Foundation-owned, undeveloped lot (5068 221a Street) to a Limited Partnership, Murrayville Rental Housing Limited Partnership, who will be building long-term market rental housing for Langley’s senior population.
When we sold the lot, it was with the understanding that the use of the land would help improve life in Langley and maintain core community wellness values.
The architect worked to maximize the amount of green space left in the lot footprint and maximize the opportunities residents will have to access the neighbourhood as well as outside greenspace and walking trails.
In fact, the building will contain more green space than typical rental housing developments!
Best of all the development will still be helping some of our vulnerable populations access housing. The rental units will be reserved for seniors and 44 apartment units of the total available units have been proposed held for “affordable unit” meaning rent will be set at or below the applicable Housing Income Limit.
While the Foundation retains the land title we are no longer the beneficial owner, meaning we do not have any input or responsibility in the operations, development or financing of the housing project.
It also means no donor dollars were used - or will ever be used - to fund the project.
On November 23, the Murrayville Rental Housing Limited Partnership brought the proposal forward to Township Council and a public hearing will be held at 7:00 pm on December 7 at Council’s regular bi-weekly meeting.
The Foundation is thrilled to see this project move forward.
With the Foundation listed as the sole beneficiary of the project profits, our focus remains on our charitable mission: To improve health care services that promote wellness and quality of life for our community.
We look forward to seeing the project grow, and look forward to the long-term revenue stability it will bring to the Foundation's support future generations.