New partnership will build homes for Courtenay families
COURTENAY - Over 50 middle-income families in Courtenay will soon have access to new, affordable rental homes in their community, as construction gets underway on a new building.
"People at every income level should be able find the affordable housing they need in the communities they love, "said Premier John Horgan. "These new rental units in Courtenay are part of our government's commitment to build 114,000 affordable homes over 10 years for people all around British Columbia."
Construction is expected to start next month on Residences at The Boulevard, which will provide 56 rental homes for people at 621 Crown Isle Blvd. in Courtenay, thanks to a partnership between the Province and WestUrban Developments.
The project is being built through BC Housing's HousingHub, which was created by the Province in 2018. The HousingHub works with community, government and non-profit and privatesector partners to help create new affordable rental housing and homeownership options for middle-income British Columbians.
"The HousingHub is enabling us to work with a range of partners to increase the supply of homes for middle-income British Columbians,"said Selina Robinson, Minister of Municipal Affairs and Housing. "This is one key part of our broader housing plan, and I'm thrilled about the progress we are seeing with more than 2,600 HousingHub homes completed or underway."
The new rental homes are designed to be affordable for households with annual incomes ranging between $48,000 and $74,000, with rental costs at 30% or lower of household income. Monthly rents will range from approximately $1,200 for a studio, to $1,650 for a two-bedroom and $1,850 for a large two-bedroom rental.
Through the HousingHub, the Province is providing approximately $11 million in low-cost financing to WestUrban Developments, which will reduce the cost of the project and deliver the anticipated rental rates.
These homes will be in a wood-frame, four-storey building, located in the Crown Isle neighbourhood of the city.
Delivering affordable housing is a shared priority between government and the BC Green Party caucus, and is part of the Confidence and Supply Agreement.
Ronna-Rae Leonard, MLA for Courtenay - Comox -
"These new homes will give more people in Courtenay an affordable place to call home and help them stay in their community. I would like to thank WestUrban Developments for partnering with the Province to help us deliver the type of housing that people need."
Sean Roy, CEO, WestUrban Developments -
"We are very excited to partner with BC Housing on another project through the HousingHub to help address the rental demand needs in Courtenay. This development provides a fantastic opportunity for residents to enjoy high-quality residential living with convenient access to all of the amenities that Courtenay has to offer. We are thrilled to break ground with BC Housing on our third project together and will be continuing to partner on future developments to increase the rental housing supply across British Columbia."
Bob Wells, mayor, City of Courtenay -
"Like many other B.C. communities, housing affordability and availability are serious concerns for Comox Valley residents. This partnership between the Province and WestUrban Developments is a great example of the collaboration and creativity that will help address the housing shortage in Courtenay, and expand the range of affordable options for middle-income earners. We thank BC Housing for its ongoing efforts in our community."
- Through provincial investments, more than 22,000 new homes are complete, under construction or in development for people with a range of incomes throughout the province. This includes 145 homes in Courtenay:
- HousingHub: 56 homes underway for people with middle incomes.
- Rapid Response to Homelessness program: 46 supportive homes completed for people experiencing homelessness.
- Women's Transition Housing Fund: eight homes completed for up to 16 women and children leaving violence.
- Deepening Affordability Fund: 35 affordable rental homes completed for people with low to moderate incomes.
A map showing the location of all announced provincially funded housing projects in B.C. is available online: https://www.bchousing.org/homes-for-BC
To learn about the steps the Province is taking to tackle the housing crisis and deliver affordable homes for British Columbians, visit: https://workingforyou.gov.bc.ca/
A backgrounder follows.
Ministry of Municipal Affairs and Housing
Province building new homes to meet full spectrum of housing needs
The B.C. government is working in partnership with non-profits, municipalities, First Nations, Indigenous housing organizations and the private sector to build 114,000 affordable homes that cover the full spectrum of housing needs for British Columbians by 2028.
Budget 2018 included a $7-billion investment in the homes people need. As a result of that investment, more than 23,000 new homes are completed, under construction or in the approvals process for a range of people who are struggling to find a place to live, from people who are experiencing homelessness and seniors on fixed incomes, to middle-income families, students and individuals. As of Dec. 31, 2019, this includes:
Housing for people with middle incomes
The average annual household income qualifying for homes underway is under $99,000 per year:
- HousingHub: 2,802 homes
Housing for people with low to moderate incomes
This includes people residing in social housing (household incomes less than $65,000) as well as those living in affordable market rentals (households with annual incomes up to $74,000) – 9,837 homes:
- Building BC: Community Housing Fund (30% of units in each project): 1,565 rental homes for people with low to moderate incomes
- Affordable Rental Housing Program: 1,615 homes for people with low to moderate incomes
- Deepening Affordability Fund: 1,976 homes for people with low to moderate incomes
- Regional Housing First Program: 907 homes for people with low to moderate incomes
Social housing or subsidized rents:
- Building BC: Community Housing Fund (50% of units in each project): 2,609 rental homes for people with low incomes
- Building BC: Indigenous Housing Fund: 1,165 homes for Indigenous peoples, on- and off- reserve
Housing for people with very low incomes
Rental housing for people experiencing or at-risk of homelessness, or for people with very low incomes (includes supportive housing and shelter-rate housing) – 4,795 homes:
- Rapid Response to Homelessness: 2,012 homes with 24/7 support
- Building BC: Supportive Housing Fund: 1,060 homes with 24/7 support
- Building BC: Women’s Transition Housing Fund: 679 spaces of transition, second-stage and affordable rental housing for women and children leaving violence
- Building BC: Community Housing Fund (20% of units in each project): 1,044 homes
Housing for students – 5,584 homes:
- BC Student Housing Loan Program: 2,699 on-campus student housing units are under construction, in development or in the approvals process
- 2,885 student housing units are also completed, under construction or in development through partnerships with post-secondary institutions
Total: 23,018 homes
Ministry of Municipal Affairs and Housing