Large affordable condo project under way in Sidney

Affordable condo unit project given residential tax break by the Town of Sidney.

Demolition crews brought down the former office of the McKimm & Lott legal firm on Fourth Street in Sidney. The lot is being cleared to make room for a new five-storey condo building. The project is being developed by the Greater Victoria Rental Development Society and will consist of affordable units. Thanks to Hugh Hollingworth for the vantage point for this photo.

The site of a new affordable housing project in Sidney is being cleared this week.

Demolition of structures began late last week on Fourth Avenue in Sidney, across from the veterans’ association lot. Room is being made for an $11 million, five-storey condo structure, being built by the Greater Victoria Rental Development Society (GVRDS).

The Town of Sidney gave the project its official go-ahead in late July, after signing off on a series of financial concessions. The residential portion of the building — 56 units, more than half of which are deemed affordable — will not have to pay residential taxes for 10 years. As well, the Town dropped permit and development fees. They agreed to the GVRDS’s request to help make the project viable and to meet the Town’s stated desire to have more affordable homes built in the community.

The commercial portion of the structure on the ground floor would still be subject to municipal taxation.

More than half of its residential units will be offered at below market rents, according to GVRDS Executive Director Alanna Holroyd. She added they based rental rates on Canada Mortgage and Housing (CMHC) guidelines on what would be considered affordable housing in the region.

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

Just Posted

Greater Victoria transit usage sees gradual rise

Ridership still down 66 per cent compared to last year

Name of victims ‘ripped down’ from Victoria display

Organizers feel the act is ‘malicious’

Government Street becomes pedestrian-priority corridor

One block of downtown street closed to cars entirely

‘The face of Belmont’: Custodial staff at Langford school pivot to support parents, students

Staff serve as point of contact for parents, students with school

Saanich property tax notices in the mail, residents unable to pay in person

Payment options, late penalties adjusted due to COVID-19

March dental conference key to many of B.C.’s COVID-19 cases

Early infections from China, Iran were quickly contained

POLL: Are you sending your children back to school this month?

Classrooms looked decidedly different when students headed back to school for the… Continue reading

Cortes Island affordable housing project hangs by a thread

Regional decision makers resort to COVID-19 concerns despite virtual meeting option and push hearing to September

MAP: Dr. Henry reveals which B.C. regions have seen most COVID-19 cases

B.C. health officials release a first look at how the novel coronavirus has reached all corners of the province

North Island recreation camping site closed due to vandalism

Damage happens every year, forcing site manager to reallocate improvement budget to repairs

Tla-o-qui-aht First Nation woman, 26, fatally shot by police in Edmundston, N.B.

Police were conducting a well-being check at the time of the incident

Seniors to receive up to $500 in promised COVID-19 emergency aid in early July

The Liberal government first promised the extra help in mid-May, but had to create a new system to deliver the aid

VIDEO: Revelstoke bear wanders into Animal House pet store

Staff got ready to chase it out with a broom

Man found dead in his tent at Island homeless camp

Facebook posts tell of personal struggles and attempts to stay clean and sober

Most Read