Victoria, BC - The Capital Region Housing Corporation (CRHC) has received financial support from the provincial government for four affordable rental projects in the capital region. This announcement is expected to enable the CRHC to advance 593 new homes for those in-need across the region in the coming years.  

This new support will be through the Province’s Community Housing Fund (CHF) under Homes for People: An action plan to deliver more homes, faster  and was announced Thursday, March 21.

“This is sensational news for the region,” said Zac de Vries, CRHC Chair. “This partnership funding allows us to quickly advance these projects, to work with local governments where the developments have been identified and, most importantly, bring these much-needed affordable rental homes to the region.”

Two of the projects approved include partnerships with local governments and two of the projects represent redevelopment opportunities for the CRHC:

• 1183 Verdier Avenue, Central Saanich  – The Capital Regional District (CRD) has an accepted offer to purchase the property and is working closely with the CRHC and the District of Central Saanich to add 110 homes in Brentwood Bay Village. This project is expected to be a mixed-use affordable rental development that includes approximately 2000 sq ft of commercial space that the CRHC is proposing to use as daycare space. The next critical step will be working in support of the District of Central Saanich to advance rezoning.
• 3950 Cedar Hill Road, Saanich  – The District of Saanich and the CRHC have partnered toward the redevelopment of the Nellie McClung library site. This initiative provides the opportunity to advance a new mixed-use development that includes a larger library with 200 affordable rental homes located above. The proposed development is in the preliminary planning stages and the next critical step will be working in support of the District of Saanich to advance rezoning.
• Two additional projects in Greater Victoria – These two redevelopments are expected to provide approximately 186 new homes in one and 97 new homes in the other. Both projects are in the preliminary planning stages with additional information to be made available in due course. The next critical steps will include respectfully engaging those tenants impacted, and to begin the process of transition planning in accordance with the CRHC Tenant Relocation Policy.

“The CRHC is constantly working to both protect and preserve its existing housing, while also looking at opportunities to provide more affordable homes to those in-need through redevelopment,” said de Vries. “We know how impactful it may be for affected households, which is why CRHC staff will be working closely with those households at all key stages of the redevelopment process to support them through their upcoming transitions.”

Quick Facts:

• The CRHC is a wholly owned subsidiary of the CRD and provides over 2,000 homes to more than 4,000 tenants throughout the region.
• It is the largest non-profit housing provider on Vancouver Island and delivers and manages affordable, attractive, inclusive, sustainable housing for low-moderate income households.
• Since 2019 the CRHC has delivered 716 new affordable rental units in the capital region.
• Under the CHF program, the CRHC expects to deliver projects where 70% of the homes are available to eligible households with rent levels set at 30% of their gross household income.
• The remaining 30% of the homes within the projects will be rented at or below market rents for households with moderate incomes.

The CRD delivers regional, sub-regional and local services to 13 municipalities and three electoral areas on southern Vancouver Island and the Gulf Islands. Governed by a 24-member Board of Directors, the CRD works collaboratively with First Nations and government partners to enable sustainable growth, foster community well-being, and develop cost-effective infrastructure while continuing to provide core services to residents throughout the region. Visit us online at www.crd.bc.ca.

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