Victoria, BC– The Capital Regional District (CRD) Board recently approved the recommendation to award a Regional Housing Trust Fund (RHTF) grant totalling $675,000 to assist the Victoria Cool-Aid Society and the BC Housing Management Commission (BCHMC) in the development of 45 housing units.
Located at 3211-3223 Quadra Street in the District of Saanich, Cottage Grove Manor will provide shelter to seniors who have experienced or are at risk of homelessness. The building will be LEED Gold standard and will accommodate the needs of the residents. All units will include kitchenettes and the building will have a large kitchen and dining facility to help provide at least one main meal per day to residents. $5 million of the total building cost of $7.4 million will in part be funded by BCHMC and they will therefore retain ownership.
“There is a growing demand for available and affordable housing for our elderly population,” said CRD Board Chair Nils Jensen. “Cottage Grove is another excellent example of organizations working together to provide residents the opportunity to continue to live independently.”
In conjunction with the investment by BCHMC, the Victoria Cool-Aid Society has contributed $1 million, the City of Victoria and the District of Saanich are both contributing $112, 000 to the project and Canada Mortgage and Housing Corporation contributed $10,000. The capital investments will allow the Victoria Cool-Aid Society to achieve rents at $375 per month for the 45 units and cover the operating costs of the building.
Construction of the new facility is expected to begin before the end of the year and be completed within a year of commencement.
“Supportive housing is essential to the health and well-being of our vulnerable senior population,” said RHTF Chair Charlayne Thornton-Joe. “The CRD has made it a priority to develop affordable housing projects, such as Cottage Grove, to ensure seniors in the Capital Region have housing options available to them.”
For more information on the Regional Housing Trust Fund, visit our website.
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