Victoria, BC - The Capital Regional District (CRD) and the Capital Region Housing Corporation (CRHC) have partnered to begin construction on Vergo, the CRHC’s first housing project to be built and operated without ongoing federal or provincial operating subsidies.
The land to build Vergo was provided to the CRHC by the Capital Regional Hospital District and the Capital Regional District. Vergo is the first new family housing complex built by CRHC since 2002 and is part of the overall redevelopment of the Mt. View School site at Carey Road.
“Vergo will consist of 18 one, two & three bedroom units for families and single persons,” said CRD Board Chair Geoff Young. “Rent levels will be at the low end of the affordable housing market for families, which will provide much needed space for residents in the region who live at low income levels.”
As part of the housing continuum, the Mt. View site includes 36 units of supported housing operated by the Victoria Cool Aid Society, a 55 unit apartment building for independent seniors and a 260 unit residential care project operated by the Baptist Housing Society of BC. In addition, future development plans include 100 residential units and a market housing component.
The capital cost of the Vergo project is being funded through equity from the refinancing of two affordable housing buildings owned by CRHC and a contribution from the CRD Regional Housing Trust Fund. There have been no additional capital contributions from senior government announced to date.
“Each self-contained suite at Vergo is designed to be energy efficient, with upgraded windows and exterior insulation,” said CRHC Chair Griffin Lewis. “This project will exemplify green building standards and innovation in sustainable design.” Appliances and lighting in the suites and overall the site meet energy efficiency ratings, and the overall project is designed to achieve a LEED Platinum rating for residential design. The site also includes rain gardens to filter all site water before it enters the municipal system; landscape material features native, drought tolerant plantings.
The CRHC owns and manages 1,268 units in 44 buildings in the Capital Region.The Corporation, which is a wholly owned corporation of the CRD, was established in 1982 to build affordable rental housing utilizing federal and provincial housing programs.
For further information please contact:
Andy Orr, Senior Manager, Corporate Communications
Capital Regional District