Island’s largest investment in affordable housing taking shape in Saanich
SAANICH – Construction is underway on the $250-million Nigel Valley housing redevelopment in Saanich, which will provide approximately 800 new homes for a range of people in need.
The Province, through BC Housing, is leading the redevelopment in partnership with the federal government, Broadmead Care, Garth Homer Society, Garth Homer Foundation, Greater Victoria Housing Society and Island Community Mental Health Association.
The redevelopment will provide hundreds of new homes for individuals, families, seniors, veterans, people living with disabilities and people with mental-health challenges. This includes:
- approximately 440 affordable rental homes;
- approximately 255 units of market housing;
- 41 long-term care beds;
- 37 homes with supports for seniors and veterans; and
- 25 homes with supports for people with mental-health challenges.
Phase 1 of the redevelopment is underway with construction of Broadmead Care’s new long-term care home, Nigel House. Located at 851 Nigel Ave., the new building will provide 88 units, including 41 long-term care beds, 37 homes with supports for seniors and veterans, and 10 affordable rental units for independent seniors and veterans. Construction is expected to be completed in summer 2024.
The Province, through BC Housing, is providing $47.5 million in construction financing and a grant of $5.2 million for Nigel House. The federal government, through Canada Mortgage and Housing Corporation, is contributing $3.2 million from the National Housing Co-Investment Fund. Broadmead Care is providing approximately $2 million and a further $3.2 million in fundraised equity. The Capital Regional Hospital District is providing approximately $1.3 million. Island Health will be providing operating funding of approximately $5.3 million.
The first phase of the redevelopment also includes a second housing project, which is scheduled to break ground in late 2022 subject to provincial approval. The Greater Victoria Housing Society’s new five-storey apartment building will provide 70 rental homes for moderate- and low-income individuals, families, seniors and adults living with disabilities.
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