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March 21, 2024, 6:27 pm

Nearly 870 New Homes Coming to Vancouver Island

Ministry of Housing
SAANICH -  Nearly 870 new affordable homes are on the way for renters on Vancouver Island through partnerships between the Province and local non-profit housing providers.

“These new homes are just the latest step we’re taking to deliver the urgently needed housing that people deserve,” said Ravi Kahlon, Minister of Housing. “We’re doing the work to ensure that there are affordable new homes for a wide range of people, from seniors on fixed incomes to growing families.”

Eight new projects on Vancouver Island have been selected through the third intake of the Building BC: Community Housing Fund (CHF). The proposed projects will provide 867 affordable rental homes for individuals, families, seniors, people living with disabilities and Indigenous people on Vancouver Island.

“These projects will meet the diverse needs of residents throughout Vancouver Island, including seniors, growing families and intergenerational families who want stay together in the neighbourhoods they love,” said Rob Fleming, MLA for Victoria-Swan Lake. “Communities are telling us what they need and we’re listening – working hard to deliver the affordable homes they deserve as quickly as possible, while preparing for future growth.”

The announcement took place at Luther Court Society’s Campus of Care at 1525 Cedar Hill Cross Rd. in Saanich. The site, as well as the adjacent 3781 Cedar Hill Rd., are owned by Luther Court Society, which is receiving funding to build 95 new units of intergenerational housing with community support space on the ground floor.

“Luther Court Society is excited to be realizing our dream of adding affordable intergenerational housing to our campus of care,” said Susan Bansgrove, board chair, Luther Court Society. “This program will support an important need in our community. We are grateful to the Province, through BC Housing, for recognizing the value of this program and selecting Luther Court to provide it.”

Including the Vancouver Island projects, the Province, through BC Housing, has identified more than 40 new housing projects to move forward, totalling approximately 3,500 affordable rental homes throughout B.C. Projects have been announced in Metro Vancouver. Additional units in the Interior and North will be announced this week. This brings the total to 12,500 affordable rental homes that are open or underway through the program since its launch in 2018.

The Community Housing Fund is part of a $19-billion housing investment by the B.C. government. Since 2017, the Province has nearly 78,000 homes that have been delivered or are underway, including more than 8,400 homes on Vancouver Island.

Quotes:

Grace Lore, MLA for Victoria-Beacon-Hill –
“Affordable new homes are what families and individuals need during challenging economic times to make a difference in their lives. Our government is investing in historic levels of funding, focused on delivering the homes that people need.”

Dean Murdock, mayor of Saanich –
“I’m thrilled to see support from BC Housing’s Community Housing Fund going toward several innovative projects in our community. Once completed, they will provide affordable rental homes for families, students and seniors. We want to provide housing for people at all life stages that provides a high quality of life, and these projects certainly contribute to these goals.”

Jill Atkey, CEO of BC Non-Profit Housing Association –
“The rental housing crisis touches every corner of British Columbia, and we’re thrilled to see that non-profits on Vancouver Island will soon be constructing 867 new affordable rental homes. These new homes are critical for British Columbians experiencing affordability challenges today, but importantly, they will also be home to thousands more in the generations to come. But our work is not done, and we will continue to push every government to increase investment into safe, secure and affordable housing.”

Quick Facts:
 
  • The Community Housing Fund is a $3.3-billion investment that has a target to build more than 20,000 affordable rental homes for people with moderate- and low-income households by 2031-32.
  • BC Housing is supporting non-profit housing providers to prepare for future funding calls, with the next calls expected in late 2024 or early 2025.
  • Under the program, residents of 70% of the units pay rent geared to income, where rent is generally based on 30% of household income.
  • This includes 20% of units for residents with very low incomes, such as those receiving income or disability assistance.
  • The remaining 30% of units are available at or below market rents for households with moderate incomes.

Learn More:

To learn more about government’s new Homes for People action plan, visit: https://news.gov.bc.ca/releases/2023HOUS0019-000436

To learn about the steps the Province is taking to tackle the housing crisis and deliver affordable homes for British Columbians, visit: https://strongerbc.gov.bc.ca/housing/

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