CRD Board Approves Grants for Affordable Rental Housing Construction

Jul 12, 2017

Victoria, BC–- The Capital Regional District (CRD) Board today approved recommendations to award two Regional Housing Trust Fund (RHTF) grants totalling $1,008,000 to assist Island Women Against Violence (IWAV) and the Cool Aid Society in the construction of new affordable rental housing.

Croftonbrook, 132 Corbett Road, Salt Spring Island
A grant in the amount of $408,000 to IWAV was approved to support the development of 34 units of affordable rental housing. Croftonbrook is located on a 4.94 acre parcel in Ganges Village on Salt Spring Island and is currently home to a 20-unit senior rental project. IWAV has proposed a 2-phase development that adds 52 new rental units, of which 18 will be offered at provincial income assistance rates and 34 at rates affordable to low and moderate income households.

Cedar Grove, 210 Gorge Road East, Victoria, BC
A grant in the amount of $600,000 to the Cool Aid Society was approved to support the development of 50 units of affordable rental housing. Victoria Cool Aid Society is proposing the redevelopment of an existing housing program which will replace 21 supportive housing units with a new rental housing development of 82 units. The new building will include 32 units at provincial income assistance rates as well as 50 units affordable to low and moderate income households.

“These decisions confirm the CRD’s ongoing commitment to help support the development of mixed income housing projects that address homelessness as well as affordable housing needs across the region,” said CRD Board Chair Barbara Desjardins.

The RHTF was established by the CRD Board in 2005, in recognition that housing affordability is a regional priority and key issue. The RHTF has allocated over $10 million in grants to build 875 units of affordable and supportive housing in the region.

In 2016, the RHTF Commission approved a resolution prioritizing grants for projects that have been supported by the new Regional Housing First Program (RHFP).  The Croftonbrook and Cedar Grove projects received Provisional Project Approval under the RHFP program in March of 2017. The use of RHTF grants to fund further development in each project will allow for mixed income developments that meet the needs of a variety of income and demographic groups seeking more affordable housing options.

RHTF grants will be provided to the projects once they are granted a building permit and finalize grant agreements with the CRD. Construction is expected to commence in late 2017 or early 2018, with the projects being completed sometime in 2019. 

To learn more about the CRD housing programs, please visit https://www.crd.bc.ca/about/what-we-do/regional-housing

                                                                                                                   

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 all levels of government 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.

 

-30-

For media inquiries, please contact:
Zoe Gray, Manager
CRD Corporate Communications
Tel: 250.360.3225
Cell: 250.507.7657