Another condo development has broken ground near downtown Victoria and it’s geared to middle-income earners, BC Housing says.
Located at 1109 and 1115 Johnson Street, Haven will sit six storeys high with 104 homes, including a mix of studio, one-, two- and three-bedroom units available now for presale.
Construction is set to wrap up in early 2024, with 70 percent of the units already sold as of Wednesday, according to a post on Chard Development’s website.
It says two-bedroom units are no longer available to buy, but studios and one-bedrooms are priced from $325,000 and $432,000, respectively.
In a press release, BC Housing is deeming Haven as affordable housing. It notes that all units are reserved for middle-class families, seniors and individuals.
Victoria mayor Lisa Helps applauds the project, saying it will give people a start getting into homeownership, freeing up space in the city’s “very tight local rental market.”
Meanwhile, Victoria-Beacon Hill MLA Grace Lore finds Haven comes amid a housing crisis that’s left many throughout BC unable to rent or buy.
“This means more homes for people living in Victoria and more opportunities for middle-income buyers to own their first home,” Gore said.
Officials say buyers will receive a no-interest, no monthly payment second mortgage to support their purchase but must make the building their primary home for at least five years.
As well, combined household income must be no higher than $118,440 for studio and one-bedroom units or $168,310 for units with two bedrooms or more.
BC Housing adds that Haven is being built through its HousingHub: Affordable Home Ownership Program and is part of a growing development that will bring more housing, a daycare and commercial space to the Fernwood area.
