Millstream Ridge, an affordable housing development on Treanor Avenue in Langford, is now complete with residents moving in to the buildings in March. (Capital Regional District website)

CRD will borrow $10M to create 400 low-income housing units

Project up to 900 units and on track to deliver 1,300 units total by the end of 2021

The Capital Regional District (CRD) Board is moving forward with a loan needed to complete a long-term housing project in the region.

The board approved bylaw changes required to borrow $10 million in an effort to provide 400 housing units at low-income shelter rates for people in need.

The Regional Housing First Program (RHFP), an equal partnership between the CRD, BC Housing and the Canada Mortgage and Housing Corporation (CMHC), was initiated with the goal to “create more affordable rental housing” and “address the needs of people experiencing homelessness in the capital region.”

READ ALSO: Housing strategy aims to eliminate homelessness in Victoria

Originally, the RHFP’s goal was to spend $90 million to develop mixed-market communities, including 400 units to be rented at $375 per month – the provincial income assistance shelter rate.

So far, the project has completed or is in the process of completing, 900 units and is on track to deliver 1,300 units total by the end of 2021 – but the CRD says escalating construction costs mean only 300 will be priced at the shelter rate.

The CRD says an additional $30 million – dependent on negotiations with program partners to match the region’s $10 million contribution – will put the project back on track to complete the 400 it had planned.

In a media release, CRD senior manager Andy Orr says: “BC Housing and the CRD continue to work with CMHC to leverage a matching grant to bring the total to $120 million.”

READ ALSO: Three mayors join forces on Capital Region anti-homelessness coalition



nina.grossman@blackpress.ca

Follow us on Instagram
Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Court strikes down Sidney’s denial of proposed cannabis store

Justice Jennifer Power orders municipality to reconsider application and pay court costs

VicPD seeking witnesses for fatal crash on Hillside Avenue

A pedestrian was taken to hospital with life-threatening injuries, where she later died

VicPD searching for three men in connection to random assault that put two in hospital

If you see these men you’re asked to call VicPD’s non-emergency line

Public welcomed back to Sidney Spit ferry and camping ground

Service opens July 20 with new ferry contractor and other pandemic-related changes

B.C. ends short experiment with growler fills at restaurants

Province extends take-out sales of six-packs, wine

21 new COVID-19 cases confirmed in B.C. as virus ‘silently circulates’ in broader community

Health officials urge British Columbians to enjoy summer safely as surge continues

Greater Victoria Crime Stoppers wanted list for the week of July 13

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

Tough time for tree fruits as some B.C. farm products soar

Province reports record 2019 sales, largely due to cannabis

‘Let’s all do a self-check’: Okanagan mayor reacts to racist vandalism targeting local family

Home of Indo-Canadian family in Summerland was targeted on evening of July 13

Province agrees to multimillion-dollar payout for alleged victims of Kelowna social worker

Robert Riley Saunders is accused of misappropriating funds of children — often Indigenous — in his care

Feds fund safe drug supply pilot program for Cowichan

The opioid overdose crisis continues to be one of the most serious public health crises

B.C. businessman David Sidoo gets 3 months behind bars for college admissions scam

Sidoo was sentenced for hiring someone take the SATs in place of his two sons

PHOTOS: Inside a newly-listed $22M mega-mansion on ALR land in B.C.

The large home, located on ALR land, is one of the last new mansions to legally be built on ALR land

Most Read