An affordable housing development on the Songhees Nation is getting an almost $20 million boost from federal and provincial coffers, it was announced on Friday (Feb. 16).
The money will be spent on building a 66-unit apartment building on Admirals Rd. near the View Royal Canadian Tire. Units will be offered at below-market rates and residents will pay no more than 30 per cent of their income.
The Songhees Nation is putting up the land, valued at about $2.8 million.
“This project symbolizes our unwavering commitment to providing safe and secure housing for all our members,” Songhees Chief Ron Sam said in a news release.
Construction on the development is already under way.
The homes will include a mix of studios and one- and two bedroom apartments, all managed by the M’akola Housing Society. Priority for the units will be given to Songhees members.
A tight timeline has been set for the project — the goal is to have the building finished by early next year — and building developer Aryze is contributing $525,000 of in-kind services to the project.
“This building is the epitome of rapid housing, from funding to construction in less than a year,” said Luke Mari of Aryze.
The provincial government is putting up $10 million through BC Housing, while the federal government is chipping in $9.9 million through the Canadian Mortgage and Housing Corporation. The Capital Regional District is also a partner in the project, and has helped bring the funding sources together through grant applications.
