The creation of 227 affordable rental units in downtown Victoria is an investment in our future workforce and our region's economy. On Tuesday, the federal government announced a $100 million loan for the Hudson Place 2 development at 1700 Blanshard St. The project features 245 multi-residential units in total. Most of those ear-marked for affordable housing will be rented at 30% of the local median income for a minimum of 16 years. As well, 49 units will rent for 70% below the median household income.
“People like teachers, nurses, shopkeepers, firefighters, paramedics, construction workers. Those people are finding it harder and harder to afford rent in Canada’s urban centres,” Ahmed Hussen, Minister of Families, Children and Social Development, told CHEK News.
As the economy rebounds, one of the biggest challenges facing employers is finding and keeping workers. Our region needs housing that is affordable in order to attract and retain a workforce.