Victoria, BC– The Capital Regional District (CRD) is pleased to announce that it has reached an agreement with the Province to purchase 22 properties currently leased to the CRD’s Housing Corporation. The properties have 538 affordable housing units that the Capital Regional Housing Corporation (CRHC) constructed on the leased land over the last 30 years.
“The proposed land purchase will enable the CRD to gain ownership of the properties, which will be under the management of the CRHC together with its other 23 properties, improving overall management, operation and long-term sustainability for all of CRHC’s 1,286 affordable housing units,” said CRD Chief Administrative Officer Robert Lapham. “The acquisition will also increase CRHC’s capacity to leverage existing properties to create new development opportunities and maintain its affordable housing stock for the long-term.”
“The need for affordable housing in the region is increasing steadily and safe and affordable housing is essential to health,” said CRD Board Chair Nils Jensen. “I am pleased that we have the opportunity to take advantage of a good use of tax dollars in support of this important priority.”
In an effort to support a strong non-profit sector, the Province is transferring leased land to non-profit housing providers. Under the Province’s proposal, the cost of acquiring these lands is estimated at approximately $10 million.
The Province has committed that the funds received will remain in the capital region to assist with housing priorities.
The CRD is a local government that delivers 200+ regional, sub-regional and local services for residents of the region which includes 13 municipalities and three electoral areas within 2370 square kilometres on southern Vancouver Island and the Gulf Islands. Governed by a 24 member Board of Directors, the CRD is working to serve the public, and build a vibrant, livable and sustainable region.
For media inquiries, please contact:
Andy Orr, Senior Manager CRD Corporate Communications
Tel: 250.360.3229 | Cell: 250.216.5492
Backgrounder: Capital Regional Housing Corporation
Over thirty years ago municipal representatives on the Capital Regional District (CRD) Board of Directors agreed that they needed to address the lack of affordable and accessible rental housing in their communities and recognized that they would collectively benefit by collaborating to form the Capital Region Housing Corporation (CRHC). The CRHC is a wholly owned subsidiary of the CRD.
The CRHC owns and operates 45 complexes with 1,286 affordable rental homes for families, seniors and persons living with disabilities. 68% of units are subsidized and house low income residents based on 30% of their income. 32% of units are below market rent. The CRHC is funded through operating agreements with senior levels of government and through tenant rent revenue.
CRHC also works in partnership with three non-profit societies providing property management services at five sites. These relationships are mutually beneficial in that the non-profits provide their expertise in supporting tenants in being successful in their tenancies and the CRHC is able to share its expertise in providing the property management services.
CRHC continues to be a leader in British Columbia in the development of affordable housing and in 2012, CRHC built VERGO, an 18 unit single and family unit complex. VERGO met the LEED for Homes Platinum standard to ensure energy efficient for both the tenants and CRHC over the long term. The opportunity to build an affordable rental project was made possible by the CRD’s decision to provide one of the serviced parcels on the former Mt. View School site to CRHC.
The CRHC Board of Directors is made up of seven members who are appointed by the CRD Board as per the CRHC Articles of Incorporation. The Board is made up of four elected CRD Directors and three community members. One of the community members is a tenant representative.
The 2015 Board of Directors is as follows:
Johnny Carline, Community Member - Secretary-Treasurer
Rick Cooper, Community Member - President
Alice Finall, CRD Director
David Howe, CRD Director - Vice-President
Sharlene Law, Community Member
Colin Plant, CRD Director
David Screech, CRD Director
For more information on the Capital Region Housing Corporation, please contact: Christine Culham