A new 132-unit affordable housing development in Langford is now complete.
Millstream Ridge — a partnership between the federal government, the province and the Capital Regional District — is two, six-storey rental buildings at 713 and 715 Treanor Ave.
New residents are expected to move into the development on March 1.
The Regional Housing First Program — a $90 million program run by the CRD, province and federal government that aims to eliminate chronic homelessness — is funding 30 of the 132 apartments for people who can live independently with supports. Rents for those units match the current provincial income assistance shelter rates.
The building also includes 37 affordable rental units and 65 units at near-market rental rates.
The Capital Regional Housing Corporation operates the two buildings and is accepting tenancy applications for the affordable and near-market units.
This is the first project to open as part of the Regional Housing First Program, according to CRD board chair Colin Plant.
“This innovative approach uses a mixed-market model and recognizes the immediate need for more affordable housing in our region,” Plant said.
The Regional Housing First Program is expected to create up to 2,000 rental units. Twenty per cent of them will be rented at provincial income assistance rates within projects that will include at least 31 per cent affordable rental units and up to 49 per cent near-market rental units on southern Vancouver Island and the Gulf Islands.
This development brings the total number of projects supported by the program to seven, which will create 760 units total.
Three of the projects are in Langford with 382 units total, one project is on Salt Spring Island with 52 units, two projects are in Sooke with 244 units and one project is in Victoria with 82 units.
Millstream Ridge, along with the other six developments, brings the estimated Regional Housing First Program’s contribution amount to about half of the $90 million total.
“Providing steady housing supply for hardworking families, reducing red tape and delivering fast approvals remains one of city council’s highest priorities,” said Langford Mayor Stew Young. “We welcome the addition of these 132 units to our affordable housing stock.”