Done!
Link copied
Share via Email
People with low- to moderate-incomes in Sooke are moving into 170 new affordable rental homes in the community.
Located at 2075 Drennan St., the development comprises two identical five-storey buildings with a mix of one-, two- and three-bedroom rental homes. Of the 170 rental units, 34 homes have been specifically reserved for people with very low incomes and will be rented at the shelter rate of $500 a month, ensuring they are affordable to those receiving social assistance, Persons With Disabilities (PWD) or a basic seniors’ pension. The remaining units will range from $1,200 to $1,525 for a one-bedroom, $1,460 for a two-bedroom, and $1,620 to $2,080 for a three-bedroom.
The project is the result of a partnership between the federal and provincial governments, the Capital Regional District (CRD) and M’akola Housing Society, which will own and operate the building.
Tenants started moving into their new homes in October.
Funding provided for this project is as follows:
- $6.9 million from the federal government, through the Affordable Housing Fund;
- $28 million from the provincial government, through BC Housing.
- $1.5 million from M’akola Housing Society
- $765,000 from the Capital Regional District through the Regional Housing Trust Fund.
Quotes:
“The Government of Canada is committed to making communities stronger through projects like the one in Sooke. These investments help to provide access to secure and affordable homes for community members, and to ensure that more individuals have a place they can call home.”
“Critical investments like these buildings ensure that we are providing deeply affordable options on Vancouver Island while also creating more housing through partnerships with Indigenous communities — a key objective in our Homes for People Action Plan. By increasing housing supply and providing affordable options, we are creating more livable spaces with housing options that fit each community’s needs.”
“The Drennan Street development was made possible through the Regional Housing First Program, a partnership between local, provincial and federal governments. Also important is a grant from the Regional Housing Trust Fund, which went toward this development of more affordable housing units in the region.”
“We raise our hands to celebrate AHMA Member M’akola Housing Society for creating homes that are accessible to people who need them most. This project is an example of the deep affordability needed by those living on very low incomes and it is an example of equity in action.”
“The availability of Indigenous affordable housing is crucial for the well-being of families and communities. As it provides a sense of security and stability, which is essential for people and communities to thrive. The Drennan Street project is a testament to the power of the partnerships and collaboration between the Province, through BC Housing, Canada Mortgage and Housing Corporation, the Capital Regional District, the District of Sooke, M’akola Housing Society and M’akola Development Services.”
Quick facts:
- The Affordable Housing Fund (AHF), previously the National Housing Co-Investment Fund (NHCF), is part of Canada’s National Housing Strategy (NHS). NHS is an $82+ billion plan to give more Canadians a place to call home. Progress on programs and initiatives are updated quarterly at www.placetocallhome.ca. The Housing Funding Initiatives Map shows affordable housing projects that have been developed.
- As of September 30, 2023, the Government of Canada has committed over $38.89 billion for the creation of 151,803 and repair of over 241,133 homes. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence.
- The AHF provides funding through low-interest and or forgivable loans or contributions to partnered organizations for new affordable housing and the renovation and repair of existing, affordable and community housing. This is a $13.2 billion program under the National Housing Strategy (NHS) that gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous peoples, people living with disabilities, those with mental health or addiction issues, veterans, and young adults.
- This project is part of a $19-billion housing investment by the B.C. government. Since 2017, the province has delivered nearly 78,000 homes that have been completed or are underway, including 275 homes in Sooke.
Additional information:
Visit Canada.ca/housing for the most requested Government of Canada housing information.
CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s aim is that everyone in Canada has a home they can afford and that meets their needs. For more information, follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
To find out more about the National Housing Strategy, please visit www.placetocallhome.ca.
For information about Canada Mortgage and Housing Corporation, visit: https://www.cmhc-schl.gc.ca/.
To learn about B.C.’s new Homes for People action plan, visit: https://news.gov.bc.ca/releases/2023HOUS0019-000436.
To learn about the steps the Province is taking to tackle the housing crisis and deliver affordable homes for British Columbians, visit: https://strongerbc.gov.bc.ca/housing/
Information on this news release:
Micaal Ahmed
Office of the Minister of Housing, Infrastructure and Communities
micaal.ahmed@infc.gc.ca
Media Relations
Canada Mortgage and Housing Corporation
media@cmhc-schl.gc.ca
BC Ministry of Housing
Media Relations
236-478-0251
BC Housing
Media Relations
media@bchousing.org
