Apartment buildings in Victoria to be converted into affordable housing

Times Colonist
Wednesday, May 21, 2008

The province has bought an apartment building on Gorge Road East and an Oak Bay Avenue rooming house to help protect Victoria's stock of affordable housing.
The Gorge Waterway Apartments, a 52-unit apartment building at 246 Gorge Rd. East, was purchased for $5.8 million, and the 13-bedroom rooming house at 1729 Oak Bay Ave. was bought for $818,000.
Funding is through the Provincial Homelessness Initiative with a $1.78 million contribution from the Ministry of Employment and Income Assistance. The cost of the two Victoria buildings is on top of the already-announced $400 million being spent by the province this fiscal year on affordable housing and shelters, Housing Minister Rich Coleman said.

Negotiations with the private owners of the two buildings were carried out through a numbered company, Coleman said. "We kind of keep our eyes open for opportunities so we can backstop the inventory of affordable housing," he said.
One of the concerns in high-cost areas such as Victoria is that low-rent properties might be redeveloped, Coleman said. "Because it's going to be a couple more years before we start building in Victoria, we wanted to make sure we had a few more units to help those at risk of homelessness," he said.

About 170 new and upgraded units in three locations will eventually be built in Victoria, in conjunction with the city. Mayor Alan Lowe said the extreme need for supportive housing in Victoria was highlighted last fall in a report from the Mayor's Task Force.
"The provincial purchase of these two buildings ensures that they will continue to provide affordable rental housing for our most vulnerable residents," he said.
Existing Gorge Road tenants will remain in the building and, as they leave, they will be replaced by tenants who qualify for social housing. A proposal for a non-profit organization to manage the building will be issued this summer.
The rooming house, which is currently filled with international students who will be leaving Victoria shortly, will be used as supportive housing for people at risk of homelessness.
Jim McGrath, who has lived at Gorge Waterway Apartments since early this year, said it is a relief that he will be able to stay in his bachelor suite, which he rents for $655 a month.
"I had a hard time finding a place. Everything is super-expensive," said McGrath, who is on a disability allowance.
"If they would make it so the rent is geared to income, that would be cool," he said.
In Victoria, there are about 3,600 social housing units, including those for seniors and families, with an annual provincial subsidy of $17 million.
Another 111 families and 835 seniors receive rental assistance from the province.