BC announces more than 475 new affordable homes in Greater Victoria

The BC government has announced that 478 affordable homes are being built in Greater Victoria through three separate projects.  

There are currently 158 new affordable apartments and townhomes that have recently become open for occupancy in Victoria. 

Plus, another 320 affordable, family-oriented rentals are being built in Saanich and Central Saanich. 

The recent opening of Caledonia, located at 1211 Gladstone Avenue in Victoria, has contributed 158 new affordable homes to Victoria’s stock. 

“Caledonia is a shining example of what we can achieve through collaboration with local and provincial partners, creating much-needed housing opportunities in our region,” said Zac de Vries, chair of CRHC and Saanich councillor.

“Together, we delivered 158 safe, quality homes, turning housing insecurity into hope for individuals and families in Victoria. We are also excited to have 320 more homes on the way through the Verdier and Cedar Hill affordable housing projects.”

Meanwhile, construction is underway on the two additional developments: the Cedar Hill project in Saanich and the Verdier project in Central Saanich. 

The Cedar Hill Library and Affordable Housing project will be located at 3950 Cedar Hill Road. 

It will be a mixed-use building that will include a new, 29,315 square foot public library on the ground floor, along with two residential towers providing 210 rental homes. 

This project is expected to be completed in 2030.

The Verdier project will be located at 1183 Verdier Avenue in Brentwood Bay. 

This project will provide 110 rental homes for people with low and moderate incomes. The building will also include a child care space for up to 16 children on the ground floor. 

“Access to safe, affordable housing is essential to the health and resilience of our community,” said Mayor Ryan Smith, Central Saanich. 

“The Verdier project reflects what’s possible when provincial, regional and local partners work together to address real housing needs.”

Verdier is expected to be completed in 2028. 

These developments are a part of a $19-billion housing investment by the Province. 

These new affordable homes were funded through the Province’s Community Housing Fund (CHF) and are being built in partnership with Capital Region Housing Corporation (CRHC).

CRHC will own and operate the homes once completed. 

According to the Province, most rents for these homes are set at no more than 30% of a household’s income, helping people keep housing costs affordable.