(Port Moody) November 25, 2020 – On November 25th, Port Moody City Council finalized the affordable housing arrangement for 3000 Henry. Their approval to facilitate the purchase of a unit by Kinsight will allow the local not-for-profit to serve the local community for many years to come.
Building community landmarks with Kinsight
The goal of Aultrust is to create a landmark building in the community that embraces inclusion and diversity in design and function. This integration with a not-for-profit that has deep roots in Port Moody, sets a new and collaborative model for a 3-tiered partnership between private developers, non-profit and municipalities, which may be replicated in the future . Through this partnership, $542,000 will be directed to building a custom-designed 1600 square foot fully accessible unit for Kinsight. The creative design of the Kinsight unit offers flexible options for people requiring varying levels of support.
“3000 Henry is an excellent example of how organizations can come together to create a development that is affordable and inclusive, welcoming all citizens,” explains Christine Scott, CEO of Kinsight.
“3000 Henry will be a landmark for Port Moody,” says Amin Eskooch, managing partner of Aultrust Development, “not just in aesthetic but in its entire identity. Partnering with Kinsight creates a partnership that will have everlasting positive effects on our community and beyond.”
“I was raised in Port Moody, the importance of balancing nature, community, and livable housing that serves a diverse spectrum is engrained in me,” says Navid Morawej, managing partner of Aultrust Development, “that passion and commitment can be seen through every step of development, particularly with the inclusion of Kinsight. I am proud to see this partnership move forward as it is a foundational building block that helps Port Moody be a more inclusive community.”
Affordable housing solutions
Providing affordable and livable housing solutions for diverse needs is integral to the project. Our team has been working diligently on the next round of design and will soon be unveiling the improved designs and floorplans. This project provides a robust affordability program including 17 rent-to-own units, six lock-off units for rental, as well as a diverse housing mix including 173 apartment and ground-oriented homes with 64 per cent of units being 2+ bedrooms. The terraced building form that mimics the hillside location and provides for views and green roofs will bring unique and diverse architecture to Port Moody.
More information on the project can be found at 3000henry.com
Aultrust Financial is a financial and real estate development organization, combining finance with development to help build distinctive communities. Aultrust takes its name from a deep-rooted conviction to principles of integrity, good-will, and social responsibility. Aultrust subscribes to the idea of being a responsible corporate citizen.
For further information please contact:
Navid Morawej, Managing Partner
Amin Eskooch, Managing Partner
About Aultrust Development
Aultrust is a financial and real estate development organization, combining finance with development to help build distinctive communities. Aultrust takes its name from a deep-rooted conviction to principles of integrity, good-will, and social responsibility.
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