The change to rental from condos for sale in the 200 Cook St. project under construction is surely a landmark event for the badly underserved purpose built rental accommodation market in Victoria.
One has to question though why the federal Rental Construction Finance Initiative that helped this project to fruition is not used by other developers to provide more affordable living spaces.
The RFCI program has $3.75 billion committed to affordable rental construction Canada wide and if our province and the city would pitch in with additional financial or zoning relief, the rental shortage could be solved.
Kudos to Urban Core Ventures for leading the pack.
George Zador
Victoria
