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
BREAKING Alice Munro, Nobel literature winner revered as short story master, dead at 92
Nobel laureate Alice Munro, the Canadian literary giant who became one of the world's most esteemed contemporary authors and one of history's most honoured short story writers, has died at age 92.
Latest updates on air quality alerts, and when the smoke may reach Ontario and Quebec
Wildfires have led Environment Canada to issue air quality advisories for parts of B.C., Alberta, Manitoba, Saskatchewan and the Northwest Territories, as forecasters warn the smoke could drift farther east.
Are these Canada's best restaurants? Annual top 100 list revealed
The annual list of Canada's top restaurants in the country was just released and here are the places that made the 2024 cut.
Attack on prison van in France kills 2 officers, inmate escapes
Armed assailants killed two French prison officers and seriously wounded three others in an attack on a convoy in Normandy on Tuesday and an inmate escaped, officials said.
Steal a car, lose your driver's licence for 10 years under new Ontario proposal
Repeat car thieves may face lengthy licence bans under proposed changes to Ontario’s Highway Traffic Act.
$1.6B parts plant for Honda electric vehicle batteries coming to Niagara Region
A Japanese company has announced it will build an approximately $1.6-billion plant in Ontario's Niagara Region that will make a key electric vehicle battery component as part of Honda's supply chain in the province.
B.C. brings in law on name changes on day that child killer's new identity revealed
The BC NDP have tabled legislation aimed at stopping people who have committed certain heinous acts from changing their names.
Manitoba premier to visit areas impacted by wildfire
Manitoba Premier Wab Kinew will get a close-up look at the devastation from a large wildfire burning in northern Manitoba Tuesday.
1 killed, 3 injured including toddler, after Hwy. 417 crash in Ottawa
Ontario Provincial Police are responding to a fatal collision involving two vehicles on Highway 417 in Ottawa's west end on Tuesday morning.