A number of new affordable rental homes are coming to Salt Spring Island soon, according to BC’s Ministry of Municipal Affairs and Housing.
In total, the province plans to invest $2.4 million to build 24 affordable rental homes intended for low-to-moderate-income families.
The property, Salt Spring Commons, will be located at 176 Bishops Walk Road and will consist of two and three-bedroom units split amongst eight triplex buildings.
According to the province, monthly rental rates for a two-bedroom unit will start at $570 and starting rates for three-bedroom units will be set at $1,475 per month.
Additionally, 20% of the units will be reserved for households with low incomes, which are categorized as up to $30,000 annually.
“Supporting local communities by offering families affordable rental options is critical for improving the rental system on Salt Spring Island and around the province,” said Adam Olsen, MLA for Saanich North and the Islands and member of the Rental Housing Task Force in a statement.
The entire Salt Spring Commons property measures five acres, and is within walking distance of Ganges, which includes the downtown core, harbour, grocery store, community services, parks, and more.
Construction of the homes is scheduled to begin in fall 2019.
“This project is a testament to the power of a community pulling together,” said Rob Grant, executive director, Salt Spring Island Community Services.