Individuals, seniors and families in need of affordable rental housing in the Greater Victoria region will soon have access to more than 500 new units of affordable housing.
Following the September 2016 announcement of a $500-million investment in affordable rental housing, the British Columbia government has announced details of eight new provincially-funded housing projects in the region, totalling 510 units.
The Province has committed more than $45 million in capital funding toward the projects.
“Our government recognizes the importance of ensuring safe and affordable housing options for families here in Greater Victoria and throughout the province," said Premier Christy Clark. “We are committed to putting British Columbians first and will continue to work with our partners to invest in new projects that improve lives and create more livable, vibrant communities.”
BC Housing staff will work with the successful proponents to fully develop the project plans and ensure the proper rezoning and consultation is considered and confirmed before construction begins.
The B.C. government will continue to work on additional measures in the coming months to address housing affordability and supply challenges. These actions will align with the Province’s six principles of housing affordability:
- Ensuring the dream of home ownership remains within the reach of the middle class
- Increasing housing supply
- Smart transit expansion
- Supporting first-time home buyers
- Ensuring consumer protection
- Increasing rental supply
To learn more about the Province's actions on housing affordability, visit: http://housingaffordability.gov.bc.ca/
To learn more about the B.C. government’s housing investments in Victoria, go to: http://www.housingmattersbc.ca/docs/fs_Community-Victoria.pdf
A backgrounder follows.