New apartment construction in Esquimalt to include 'deeply affordable' units
New apartment construction in Esquimalt to include 'deeply affordable' units
The six-storey, wood-frame building at 874 Fleming St. in Esquimalt, B.C., will include five three-bedroom and six four-bedroom units to accommodate families. (Lowe Hammond Rowe Architects)
Construction is underway on 137 new rental suites for low- and middle-income residents in Esquimalt, B.C.
The federal and provincial housing ministers joined Esquimalt Mayor Barb Desjardins Wednesday to announce more than $20 million in funding for the project at 874 Fleming St.
The six-storey, wood-frame building will include five three-bedroom and six four-bedroom units to accommodate families, according to a release Wednesday from the federal Ministry of Housing and Diversity and Inclusion.
The development also includes seven studio units that are fully wheelchair accessible.
The new build replaces an existing apartment building on the site. The federal government says all tenants of the original building were relocated to other housing in the community and will have the right of first refusal to rent in the new building.
The federal government is contributing $6.4 million for the new build while the province is kicking in $14.5 million.
Developer Lapis Homes donated $60,000 and Vancity Savings Credit Union provided $19,500 in seed funding and a predevelopment seed loan of $350,000, according to a statement Wednesday from the federal Ministry of Housing and Diversity and Inclusion.
Once complete, the building will be operated by the Greater Victoria Housing Society.
28 'DEEPLY AFFORDABLE' UNITS
"Our government is dedicated to helping those in need, which is why we are proud to invest in the redevelopment of this apartment complex in Esquimalt," said federal Housing Minister Ahmed Hussen.
"With nearly 140 units to support families, this project will play a vital role in providing housing options for those in need in the community."
Esquimalt-Metchosin MLA Mitzi Dean said the new build will "better meet the needs" of Esquimalt residents when tenants return in summer 2024.
The rental price for 68 of the units will be set at 30 per cent of the tenant's gross income. The federal government says 28 of the units will be "deeply affordable," with rents starting at $375 for a studio and $715 for a four-bedroom suite.
Correction
A previous version of this story identified Mitzi Dean as B.C.'s Housing Minister. In fact, she is the Minister of Children and Family Development.
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