Our application to the BC Housing Community Housing Fund for $400,000 to build 4 additional accessible rental units in the Seniors Village was selected as part of the first round of funding announcements. We still have a lot of work to do to confirm the project plans, funding details, unit designs and rent structure, but we look forward to working with BC Housing and getting construction started as soon as possible.
In addition, the Housing Committee was pleased to receive positive encouragement from BC Housing regarding our other grant application for 20 rental units in Rainbow Ridge. We will continue our pre-development planning and local fund-raising to complete our community’s contribution of both cash donations and land assets towards building this legacy project. Cortes Island has a great opportunity to ride the affordable housing wave that all levels of government are currently supporting.
According to a government release, the province is moving forward with more than 4,900 new affordable mixed-income rental homes as part of the Building BC: Community Housing Fund. These homes are the first set of projects selected through this fund, and will include both non-profits (like the Cortes Island Seniors Society) and co-ops that will be built over the next two or three years.
The province’s new Building BC: Community Housing Fund, is a $1.9-billion investment over 10 years, will build more than 14,000 affordable rental homes for seniors, families, low and middle-income earners, across the province.
Premier John Horgan said these new rental homes: “Are an important step toward addressing the housing crisis and giving families in every part of the province a break from skyrocketing housing costs.” Much like past investments in co-op and non-profit housing, individual buildings will contain units aimed at a mix of income levels, including rental homes for middle-income individuals and families, deeply subsidized rentals for seniors and others on fixed incomes, and homes for low-wage workers.