Province announces funding for 4,900 affordable rental units
The B.C. government is promising to build 4,900 mixed income rental homes across the province.
Premier John Horgan says the investment is 1.9 billion over 10 years.
Nearly 1,300 of those homes will be built on Vancouver Island and the Gulf Islands, with the lion’s share of homes to be built in Victoria.
$65 million of that will go to help build 588 affordable rental homes in Victoria over the next two to three years.
“This investment by the Province is thrilling,” says Victoria Mayor Lisa Helps in a statement. “We are happy to collaborate and partner with housing providers and the school district and to put forward city-owned land to make some of these buildings a reality. We look forward to continued partnership building going forward to continue to make Victoria affordable and address the housing crisis.”
Another $8.5 million will go to 85 units for seniors in Saanich.
The buildings will contain a mix of units for middle-income people and families, heavily subsidized rentals for seniors and others on fixed incomes and homes for low-wage workers.