Novara Place

Novara Place is set to open this fall. We are currently accepting applications for 1, 2, and 3 bedroom units. All units are fully adaptable, 6 units are fully accessible.

The construction of Novara Place is a collaboration of CMHC, BC Housing, ‘Ksan Society and the City of Terrace. The majority of the funding received was covered under the Community Housing Fund (CHF) from BC Housing. The CHF supports rental housing for people with low and moderate incomes.

Market Rent

Program Requirement - 30% of Units

Rent Amount - Initial market rent approved by BC Housing and must be maintained at or above the CMHC Average Market Rent

Tenant Income Eligibility - Eligible applicants must meet current low- and moderate-income limits.

Proof of Eligibility - Proof of income is required at move in only

Rent Geared to Income (RGI)

Program Requirement - 50% of Units

Rent Amount - Varies based on the rent calculation guide Rent Scale

Tenant Income Eligibility - Tenants with an income below the applicable Housing Income Limits (HILs) (opens in a new tab)will be selected from The Housing Registry

Proof of Eligibility - Proof of Income and Assets required annually

RGI Deep Subsidy

Program Requirement - 20% of Units

Rent Amount - Varies based on rent calculation guide Rent Scale

Tenant Income Eligibility - Residents with an income below the Deep Subsidy Income Limits, as established by BC Housing, selected from the Housing Registry

Proof of Eligibility - Proof of Income and Assets required annually