More than 90 new, affordable homes are coming to southern Vancouver Island, after the B.C. and federal governments announced $13.1 million in funding for the initiative.
The homes will be split between Saanich and Central Saanich, with construction expected to begin this spring and summer.
The funding is part of the federal government's Rapid Housing Initiative delivered through the Canada Mortgage and Housing Corporation and aimed at creating 4,700 affordable housing units across the country.
The B.C. government will support the projects with annual operating funding over 20 years, and non-profit housing operators will be chosen to manage the properties.
Through the Rapid #Housing Initiative’s Major Cities Stream, @crd_bc will use their $13.1 million in funds for two projects, totaling up to 91 #homes. The projects will provide supportive housing for vulnerable residents in the @saanich area: https://t.co/IPKQUKOfdb pic.twitter.com/CnKnmwA2jp
— CMHC (@CMHC_ca) March 24, 2021
David Eby, the minister responsible for affordable housing in B.C., says in a statement the funding highlights the kind of partnership needed to help vulnerable people in the province.
Ahmed Hussen, who is responsible for the Canada Mortgage and Housing Corp., says the housing projects will go a long way to support those who need it most by quickly providing new affordable homes to vulnerable individuals and families.
