The province has facilitated the purchase of the 56-unit Woodland Gardens property, located at 3048 Lake Cowichan Rd. in North Cowichan, to ensure families, individuals and Indigenous people will continue to have access to affordable housing.
Housing Minister Ravi Kahlon made the announcement on July 17 while touring the site of the new four to six-storey, 199-unit rental complex that will be constructed on reserve land owned by Cowichan Tribes at 222 Cowichan Way in Duncan. That development is part of the province’s BC Builds program. It is expected to begin in late summer or early fall this year.
Woodland Gardens, which was bought by Connective, a social service non-profit organization, through the province’s Rental Protection Fund, consists of many affordable one and two-bedroom units that are sought after by smaller households, especially seniors in the community, due to its proximity to the Cowichan District Hospital.
The Rental Protection Fund provided approximately $5.4 million in equity and more than $630,000 to Connective to help secure the purchase of the property.
As well as Woodland Gardens, the province is also assisting Connective to purchase five buildings with a total of 153 housing units in Campbell River and three buildings in Port Hardy with a total of 125 units through the Rental Protection Fund.
Kahlon said that having a secure and affordable home provides people with stability, and that losing affordable housing because the building is being sold can be destabilizing for families.
“The Rental Protection Fund is helping to protect more than 330 homes on Vancouver Island to ensure they remain affordable for the people living in them,” he said.
“This is our Homes for People Plan in action; protecting existing rental stock so people can keep their homes affordable, without worrying about their future.”
The $500-million Rental Protection Fund provides one-time capital grants to non-profit housing organizations so they can purchase affordable residential rental buildings and cooperatives, thereby protecting the people who are living there and safeguarding the units for the long term.
Mark Miller, CEO of Connective, said the Rental Protection Fund presents an exciting opportunity for Connective to further diversify its range of offerings across the housing spectrum, leverage its expertise in response to an underserved community need, and support those looking to live independently in Duncan, Campbell River and Port Hardy.
“We’re grateful to the Rental Protection Fund for making these acquisitions possible, and the provincial government for their leadership in establishing it so that we, and other non-profits, can play a role in the protection of housing affordability across the province,” Miller said.
Kahlon toured the site of the planned complex at 222 Cowichan Way on July 17 with Cowichan Tribes Chief Cindy Daniels.
The project, which was announced last February, will be built by Cowichan Tribes’ economic arm Khowutzun Development Corporation and is part of the province’s new BC Builds program that looks to lower construction costs, speed up timelines, and deliver more homes that middle-income people who live and work in B.C. can afford.
It will have a minimum of 20 per cent of the units that will be rented at 20 per cent below market value, with a goal of delivering even more units at below-market rates.
The project will also provide a new governance headquarters for Cowichan Tribes, and space for Indigenous businesses.
Asked why the focus of the project is to provide affordable housing for middle-income people rather than those with low income, Kahlon said that unless housing shortages across the whole spectrum of wage earners is addressed, it will keep housing prices high and that will only put more pressure on low-income people because what’s available will be snatched up by those who can more afford it.
He said, as well, there is a need for more housing for middle-wage earners in the Cowichan Valley to attract medical workers for the new Cowichan District Hospital, in addition to construction and other workers for the many other infrastructure projects that are underway or planned in the region.
“This project is on top of the funding we’ve provided for shelters, supportive housing and other initiatives for more vulnerable people,” Kahlon said.
“This is not a choice between providing funding for one group over another, it’s about addressing the whole continuum of housing that’s needed. At this stage, we’re seeing 10,000 people move to B.C. every 37 days.”
Kahlon pointed out that previous provincial governments used to have effective affordable and social housing programs that were cut or marginalized over the years, and the current government is working hard to try and fill the need.
“But we’re two decades behind,” he said.
