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Innovative approach to affordable homes in Victoria

6/16/2021

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Construction has started on a new project in Victoria that includes nine homes with a novel approach to making them affordable for middle-income families, seniors and individuals.
 
The six-storey building at 1301 Hillside Ave. has a total of 49 units, with nine set aside for buyers with household incomes under $116,330 ($163,220 for the two-bedroom homes). Buyers receive a no-interest, no-monthly-payment second mortgage to support their purchase. This helps with the equity portion of the purchase, making it easier to obtain a first mortgage.
 
The project is being built by Abstract Developments through BC Housing’s Affordable Home Ownership Program.
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  • Membership
    • Why Join?
    • Job Board
    • Member to Member Offers
    • Benefits, Discounts & Savings >
      • Chamber Store
    • Chamber Local
    • 1863 Impact Award
    • Questions & Answers
    • Join Now
    • Member Login
  • Member Directory
  • Events
    • Signature Events >
      • Annual Auction
      • Business Awards
      • Business Hall of Fame
      • Business Leaders Series
    • Event Calendar >
      • Chamber Events
      • Community Events
    • Event Photos 2023
    • Sponsorship
  • News & Advocacy
    • Weekly BizNews >
      • BizNews-articles
    • Advocacy / Wins for Business >
      • Advocacy Wins
      • Business Property Taxes
      • Advocacy Priorities
    • Chamber Chats
    • In the News >
      • Published Op-Eds
      • Media Releases
    • Non-market housing
    • Find and keep workers
    • Business Matters Magazine
    • COVID-19
  • About Us
    • Emerge >
      • Emerge Events
      • Emerge Mentorship
      • Emerge Connect
    • Staff Directory
    • Board & Governance >
      • Governors
      • By-Laws, Plans & Reports
      • Committees
    • Chamber History
    • Partners & Sponsors
    • About Victoria >
      • Starting a Business
      • Moving Here
      • Visiting Victoria, BC
    • Contact Us