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Horizon North Confirms Approval of Vancouver Affordable Housing Project
Horizon North Confirms Approval of Vancouver Affordable Housing Project Canada New...
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[{"type":"text","content":"\n\n\n\nHorizon North Confirms Approval of Vancouver Affordable Housing Project\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Oct. 4, 2017\n\n\n\nCALGARY, Oct. 4, 2017 /CNW/ - Horizon North Logistics Inc. (\"Horizon North\" or the \"Corporation\") (TSX-HNL) confirms today that the City of Vancouver (the \"City\") has approved a recommendation from City staff to authorize the Vancouver Affordable Housing Agency (\"VAHA\") to negotiate an agreement or agreements with Horizon North for the design, manufacture and installation of up to 600 temporary-modular affordable housing units on locations to be selected by the City, at a total cost of up to $66 million (the \"Project\").  Funding for the Project has been approved and will be provided by the BC Housing Management Commission (\"BC Housing\") with the first units anticipated opening in early 2018.   The approved recommendation contemplates that BC Housing will take contractual responsibility for the Project, working closely with VAHA and the City.  \n\n\"We view this resolution as a direct result of the positive experience associated with Vancouver's first temporary modular project located at 220 Terminal Avenue whereby Horizon North provided a temporary, modular solution that allows the units to be relocated at a future date,\" said Rod Graham, President and Chief Executive Officer of Horizon North.  \"Our excellent working relationship with the City, VAHA and BC Housing, coupled with our innovative modular construction process allows for creative and practical solutions to assist the City in addressing its priority of increasing the supply of affordable housing.\"\n\nHorizon North will not be making any further comment unless a definitive contract or contracts are entered into. \n\nABOUT HORIZON NORTH\n\nHorizon North is a publicly listed corporation (TSX: HNL.TO) providing a full range of industrial, commercial, and residential products and services.  Our Modular Solutions division integrates modern design concepts and technology with state of the art, of...