Esquimalt apartment construction is underway and will include “very affordable” units

Construction underway on 137 new rental apartments for low- and moderate-income residents in Esquimalt, British Columbia

Federal and provincial housing ministers joined Esquimalt Mayor Barb Desjardins on Wednesday to announce more than $20 million in funding for the 874 Fleming St. project.

The six-story wood-frame building will include five three-bedroom and six four-bedroom units to accommodate families, according to a release Wednesday from the federal Department of Housing and Diversity and Inclusion.

The complex also includes seven studios that are fully wheelchair accessible.

The new building replaces an existing residential building on the site. The federal government says all tenants of the original building have been relocated to other housing in the community and will have the right of first refusal to rent in the new building.

The federal government is contributing $6.4 million to the new construction, while the province is contributing $14.5 million.

Developer Lapis Homes donated $60,000 and Vancity Savings Credit Union provided $19,500 in seed funding and a $350,000 seed loan, according to a statement Wednesday from the federal Department of Housing and Diversity and Inclusion.

Once completed, the building will be managed by the Greater Victoria Housing Society.

28 “DEEP AVAILABLE” UNITS

“Our government is dedicated to helping those in need, which is why we are proud to invest in the redevelopment of this housing complex in Esquimalt,” said Federal Housing Minister Ahmed Hussen.

“With nearly 140 units to support families, this project will play a vital role in providing housing options for those in need in the community.”

Esquimalt-Metchosin MLA Mitzi Dean said the new building will “better meet the needs” of Esquimalt residents when tenants return in the summer of 2024.

The rent for 68 of the apartments will be set at 30 percent of the tenant’s gross income. The federal government says 28 of the units will be “very affordable,” with rents starting at $375 for a studio and $715 for a four-bedroom apartment.