New affordable housing under construction in Sooke, Victoria
Two new housing projects have just been launched in Sooke and Victoria, with some of the units earmarked as affordable housing, according to the B.C. government.
In Sooke, a five-storey apartment building is set to be built at two adjacent lots at the corner of Sooke Road and Drennan Street.
The building will include 170 rental units, ranging from studio units to three-bedroom homes.
Twenty-nine of the units are being reserved for people with low incomes, with monthly rent set at shelter rates.
Meanwhile, the remaining 141 units will be set at "below market" rental rates, according to the province.
The building is expected to open to tenants in fall 2023. Construction is pegged at roughly $13.5 million, with contributions from all three levels of government and the M’akola Housing Society.
"This new project will provide a wide range of housing options with more affordable monthly rents," said B.C. Premier John Horgan in a statement Friday.
Meanwhile, construction has begun on a new condo project in Victoria.
A six-storey condo building is coming to the corner of Hillside Avenue and Cook Street at 1301 Hillside Ave. The building will be home to 49 units, including studio, one-bedroom, junior two-bedroom, and two-bedroom homes.
Nine of the building's units will be listed through the province's Affordable Home Ownership Program (AHOP).
AHOP is a BC Housing program that offers low-cost financing for middle-income home buyers through government-administered second mortgages.
These second mortgages are interest and monthly-payment free for up to 25 years.
The remaining 40 units in the new building will be sold at market value, according to the province.
"This project is an example of our experiments with new models to offer affordability to British Columbians," said David Eby, Attorney General and Minister Responsible for Housing.
"In addition to being an experiment in affordability, this building will mean more homes for those living in Victoria and will support middle-income buyers to own their first home," he said.
The building is slated to finish construction in spring 2023.
Further information on BC Housing's AHOP program can be found here.
CTVNews.ca Top Stories
Why drivers in Eastern Canada could see big gas price spikes, and other Canadians won't
Drivers in Eastern Canada face a big increase in gas prices because of various factors, especially the higher cost of the summer blend, industry analysts say.
How to avoid the trap of becoming 'house poor'
The journey to home ownership can be exciting, but personal finance columnist Christopher Liew warns about the trappings of becoming 'house poor' -- where an overwhelming portion of your income is devoured by housing costs. Liew offers some practical strategies to maintain better financial health while owning a home.
Toxic forever chemicals in drinking water: Is Canada doing enough?
As the United States sets its first national limits on toxic forever chemicals in drinking water, researchers say Canada is lagging when it comes to regulations.
'A living nightmare': Winnipeg woman sentenced following campaign of harassment against man after online date
A Winnipeg woman was sentenced to house arrest after a single date with a man she met online culminated in her harassing him for years, and spurred false allegations which resulted in the innocent man being arrested three times.
Some customers steaming after McDonald's ends free hot drink sticker program
It took years for Vinnie Deluca to collect more than 400 cards worth of free McDonald's McCafe coffee, a collection that now has "zero value" after the company discontinued the program.
Biden scores endorsements from Kennedy family, looking to shore up support against Trump and RFK Jr.
U.S. President Joe Biden will accept endorsements from at least 15 members of the Kennedy political family during a campaign stop in Philadelphia on Thursday as he aims to undermine Donald Trump and marginalize the candidacy of Robert F. Kennedy Jr.
Where did the gold go? Crime expert weighs in on unfolding Pearson airport heist investigation
Almost 7,000 bars of pure gold were stolen from Pearson International Airport exactly one year ago during an elaborate heist, but so far only a tiny fraction of that stolen loot has been found.
When new leaders took over in ancient Maya, they didn't just bury the former royals. They burned their bodies in public
New archeological investigations in Guatemala reveal that the ancient Maya people had a ritual of burning royal human remains as a public display of political regime change.
Prince William returns to public duties after wife Kate's cancer revelation
Prince William will return to public duties on Thursday for the first time since his wife Kate revealed she was undergoing preventative chemotherapy for cancer.