Nearly 50 units of rental housing will soon be available for middle-income families in Colwood.
Construction has recently begun on the four storey 48-unit apartment building located at 284 Belmont Rd, and the project is expected to be completed in late 2020.
- 82 new affordable homes are now available for seniors, families, and disabled in Colwood
- Over 120 affordable housing units for Indigenous families to be built in Colwood
This $9.7 million building is being funded through the a BC Housing program called HousingHub created in 2018.
HousingHub is partnering with Stride Properties Ltd to build the project which, according to the Province, should be affordable for households with an income ranging between approximately $52,000 and $66,000.
“These 50 new homes for middle-income families will increase the diversity of housing choice in Colwood,” said Rob Martin, mayor of Colwood.
“We want Colwood residents to be able to live in our community throughout their lives, and that includes having affordable rental options for young adults, families starting out and people on fixed incomes.”
At this time, estimated rent projections are $1,300/month for one-bedroom apartments and $1,650/month for two-bedroom units.
Earlier this year, the Province announced 120+ units of affordable housing for Indigenous people in the municipality.
They also finished the redevelopment of a townhouse complex to create 82 affordable homes for senior citizens, families, and people with disabilities in Colwood.
So far, the province has funded the construction of over 2,800 homes that are either completed or underway in the Greater Victoria region.