CRD Approves Grant from Regional Housing Trust Fund for Rental Housing Units

Jul 08, 2009

Victoria, BC – The Capital Regional District (CRD) Board has approved a grant of $460,000 from the Regional Housing Trust Fund to the Capital Region Housing Corporation (CRHC) to assist in the construction of 46 affordable rental units for families at Dockside Green.

CRHC, working with the City of Victoria and Dockside Green Limited Partnership, is in the process of obtaining municipal approvals and completing drawings for two buildings (35 and 11 units); construction is anticipated to begin in fall 2009. The buildings will meet a LEED® Gold Standard, including energy efficient materials, an on-site biomass gasification plant and water conservation measures.

In addition to the grant from the CRD, the project has also received a matching contribution from the City of Victoria Housing Fund and $1,802,000 from the Dockside Green Affordable Housing Fund. The CRHC is also committing equity to the project.

“Creating energy efficient buildings is an important component of this project,” said Mayor Christopher Causton, Chair of the Regional Housing Trust Fund. “Tenants will also have the opportunity to participate in a car sharing program, which will form part of the development’s commitment to reducing its carbon footprint.

“The Dockside Green Development represents the first rental housing unit project that the Housing Corporation will complete without federal/provincial operating subsidies,” said Councillor Charlayne Thornton-Joe, CRHC Chair. “It has taken the financial commitment of Dockside Green, the City of Victoria and the CRD and CRHC to make this project a reality.” Rent prices for units will be on the low end of the market for new construction and residents will benefit from lower energy bills, access to public transportation and local community services.

“Dockside Green is an important development in the City of Victoria,” said Mayor Dean Fortin. “We are committed to building new rental accommodation which can be offered below market rent prices for new construction. This project represents development that is both sustainable and responsible, with a mix of income and housing types that will meet the needs of the region, now and in the future.”

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For more information please contact:
Sheila Taylor, Manager, Community Relations
Corporate Communications
Tel: 250.360.3308
Cell: 250.216.4427

Kelly O’Brien, Marketing Manager, Dockside Green
Tel: 250.360.1100 ext 221
Cell: 250.818.0819