Governments $90M affordable housing initiative may not be enough
Last week, the federal provincial and regional governments announced a $90-million affordable housing initiative that would create over 2,000 rental units in Greater Victoria over the next four years.
But, is it enough?
No, according to Casey Edge, executive director of the Victoria Residential Builders Association. Edge says it depends on where the land is coming from as that component of any project is the most costly.
"Now if the government had of announced, for instance we've got a lot of federal provincial municipal land in this community we're not using for affordable housing. Instead, we are regulating the private market. So, here's an inventory list of the land in this community, owned by government that we can use for affordable housing. Now that to me is real world credibility."
Edge says there seems to be a disconnect between what government says and what they are doing. He says Victoria City Council turned down a project two months ago that was 40 units of market rental.