COLWOOD – The Government of British Columbia is partnering with Pacifica Housing and the City of Colwood to break ground on 82 much-needed rental homes for families, seniors and people with disabilities.
“Our community has been struggling under the weight of this housing crisis, along with the rest of the province, for far too many years,” said Mitzi Dean, MLA for Esquimalt-Metchosin. “I am excited for the people who will be living in these homes. Our government is working hard to create the partnerships needed to build even more projects like this to help people find a place to call home.”
Located in the Colwood Lakes neighbourhood at 2006 Sooke Rd., construction is underway for the Helios redevelopment that will replace 12 aging townhouses with 82 new homes.
The project will create more homes for low-to moderate-income households and is near Colwood’s downtown core with community amenities, schools, retail areas and transit nearby.
“Colwood is proud to support Pacifica Housing on the construction of 82 affordable rental units at Helios in Colwood,” said Carol Hamilton, mayor, City of Colwood. “Current housing costs and low vacancy rates can make homelessness a frightening possibility for people on low or moderate incomes. The kind of safe and affordable housing Pacifica provides is the foundation people need to build the life they envision for themselves and their families.”
Helios will include homes of varying sizes, from studios to three-bedroom units, with a projected rent range of approximately $825 to $1,575 per month.
It will be operated by Pacifica Housing and will include pedestrian walkways, a playground, and community gardens.
"We are thrilled to be working with our partners to increase the affordable housing stock for families in the Western communities,” said Dean Fortin, executive director, Pacifica Housing. “People should be able to work in the communities where they live, and projects like Helios make that possible."
The new building is expected to be complete by summer 2019.
- The Province provided $8.4 million in capital funding and $10.2 million in construction financing for the project.
- The City of Colwood contributed $328,000 through their affordable housing reserve fund.
- Pacifica Housing provided the land valued at approximately $4 million.
- The approximate rental rate projected for the Helios project will be:
- Studio: $825/month
- 1 bedroom: $950/month
- 2 bedroom: $1,225/month
- 3 bedroom: $1,575/month
- Through the new Building BC Community Housing Fund, government will invest close to $1.9 billion over 10 years to deliver safe, secure and affordable housing for B.C. renters: https://news.gov.bc.ca/releases/2018PREM0019-000664
- To address the issue of housing affordability for British Columbians, the Province is curbing speculation in B.C.’s housing market and building 114,000 affordable market rental, non-profit, supported social housing and owner-purchase housing through partnerships.
- Budget 2018 launched the largest investment in housing affordability in B.C. history – more than $7 billion over 10 years.
Read Homes for B.C., government’s 30-point plan to address housing affordability for British Columbians: http://bcbudget.gov.bc.ca/2018/homesbc/2018_Homes_For_BC.pdf
Ministry of Municipal Affairs and Housing