Canada’s economic plan is building more rental homes, faster in Victoria


March 11, 2024 – Victoria, British Columbia – Department of Finance Canada

Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, visited Hudson House in Victoria to highlight how Canada’s economic plan is building more homes, faster.

With the support of $100 million from the federal government’s Apartment Construction Loan Program, Hudson House is now welcoming its first residents into 1700 Blanshard Street, which will offer homes to 245 families. Hudson House is part of the larger Hudson District, which includes more than 950 new homes across six buildings.

The completion of these 245 new rental homes is a prime example of how the federal government is building more homes for everyone, including families, younger Canadians, and persons with disabilities. Hudson House, which includes 39 accessible homes, will rent 227 homes at or below 30 per cent of the median local household income. To protect renters, the affordability quota will be maintained until at least 2040.

Hudson House is a sustainable, mixed-use building that will produce nearly 20 per cent less greenhouse gas emissions than the typical mixed-use building. With over 8,300 square feet of commercial space, Hudson House will help businesses to start and grow in the neighbourhood. This commercial space will make Hudson House a place where people can comfortably live, work, play, and access the goods and services they need.

In addition to Hudson House, the federal government’s economic plan supported the nearby construction of:

  • 60 new homes at 840 Fort Street, with $13.25 million from the Apartment Construction Loan Program; and,
  • 47 new homes at 220 Cook Street, with $21.14 million from the Apartment Construction Loan Program.

Canada’s economic plan is building more homes, faster. The federal government is working with all orders of government to make housing more affordable for Canadians in Victoria and every corner of the country. 



Source link