The Canada Mortgage and Housing Corporation (CMHC) announced new federal funding coming to a Victoria development, providing 77 affordable homes.
The announcement was made with members of the federal government, along with the BC government, the City of Victoria and the Gorge View Society.
Over $50 million in combined funding will be injected into the development at 8 Chown Place in Victoria.
This funding will be put towards building an additional 77 homes for independent seniors and families.
“These new homes are about more than housing—they’re about building a stronger community,” said Will Geaves, Member of Parliament for Victoria.
“When seniors and families live side by side, communities become more caring, resilient, and connected. This project ensures people can age with dignity, raise their families with confidence, and be part of a neighborhood that values every stage of life.”
The second phase of this project is now underway, which will see a six-story tower built, comprising 68 one, two and three-bedroom apartments, along with nine three-bedroom townhomes for seniors and families.
The second phase also includes the construction of an amenity building and communal green space to be shared by all current and future residents.
Chown Place is located in the heart of the Burnside Gorge neighbourhood and is owned and operated by the Gorge View Society.
“These 77 new units at Chown Place will ensure more seniors and families have safe, secure, affordable homes in Victoria, close to the essential amenities they need,” Mayor Marianne Alto.
“This partnership among three orders of government and the community is essential to our collective, continuing work to increase affordable housing for Victorians.”
All 77 units are secured through a legal agreement as affordable or below-market rentals for a minimum of 60 years.
The federal government provided $28.2 million for the project while the Province funded $12.6 million in grants along with guaranteed annual operating funding of $900,000.
The City of Victoria is providing $770,000 in grants and $585,000 in municipal fee reductions.
Currently, there is no clear timeline of when these units will become available.
