Six new affordable housing projects in Greater Victoria to receive BC funding

Six new affordable housing projects in Greater Victoria to receive provincial funding

Artistic rendering of an example of an affordable rental housing project in Vancouver Island. (Government of BC)

The provincial government announced today that eight new affordable housing projects on Vancouver Island will receive financial support.

These projects, generating a combined total of 867 units, are amongst the third round of successful recipients of the Building BC: Community Housing Fund (CHF).

“These new homes are just the latest step we’re taking to deliver the urgently needed housing that people deserve,” said Ravi Kahlon, BC’s minister of housing, in a statement. “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.”

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This follows the provincial government’s announcement on Tuesday announcing the first 17 projects, totalling almost 2,000 units, to receive CHF’s third round funding — including 16 projects located within Metro Vancouver.

The Vancouver Island recipients in the third round include two projects in Saanich, one in Central Saanich, one in Nanaimo, one in Port Alberni, and one in Victoria. The locations of two projects located within the Greater Victoria area will be announced at a later date.

Here are the eight projects in Vancouver Island from today’s announcement, including six within Greater Victoria:

Central Saanich, 1183 Verdier Avenue: 110 homes for families and seniors, in partnership with Capital Region Housing Corporation
Nanaimo, 1125 Seafield Crescent: 62 homes for seniors, in partnership with Woodgrove Senior Citizens Housing Society
Port Alberni, 2866 4th Avenue: 40 homes for families and seniors, in partnership with M’akola Housing Society
Saanich, 3781 Cedar Hill Road: 95 homes for intergenerational housing, in partnership with Luther Court Society
Saanich, 3950 Cedar Hill Road: 200 homes for families and seniors, in partnership with Capital Region Housing Corporation
Victoria, 11 Chown Place: 77 homes for families and seniors, in partnership with the Gorge View Society
Greater Victoria (address to be announced at a later date): 186 homes for families and seniors, in partnership with Capital Region Housing Corporation
Greater Victoria (address to be announced at a later date): 97 homes for families and seniors, in partnership with Capital Region Housing Corporation

CHF’s first intake was in 2018, and the second intake occurred between late 2020 and early 2021. The current third intake occurred between August and November 2023. Calls for future CHF funding rounds will be made in late 2024 or early 2025.

The fund is open to non-profit organizations, housing co-operatives, municipal governments, and First Nations.

The projects were selected based on criteria that consider the need for affordable housing on an area-to-area basis. As well, funding is available for projects that need to cover further design and planning work to prepare them for the next CHF funding call.

Projects benefitting from the CHF must dedicate 70% of the homes with rents geared to income, where rent is based on 30% of household income. This rent-geared-to-income portion includes setting aside 20% of the homes for people with very low incomes, such as those receiving income or disability assistance. The remaining 30% of the units are available at or below market rents for households with moderate incomes.

Additional successful projects for third-round funding in the BC Interior and North areas will be announced later this week.

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