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Construction is underway on the $250-million Nigel Valley housing redevelopment in Saanich, which will provide about 800 new homes for a range of people in need.
The Nigel Valley redevelopment will be completed in three phases over the next decade.
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.
Once completed, the housing will include about 440 affordable housing units, 255 market housing units, 41 long term care beds, 37 homes with supports for seniors and veterans, and 25 homes to support people with mental health challenges.
“Strong partnerships are needed for creating lasting positive change in people’s lives by improving housing affordability in our communities,” said Rob Fleming, MLA for Victoria-Swan Lake.
“The Nigel Valley redevelopment represents what a community can accomplish by working together to redevelop a neighbourhood that’s focused on the needs of the people who will live there.”
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 is contributing $3.2 million from the National Housing Co-Investment Fund.
Broadmead Care is providing about $2 million and a further $3.2 million in fundraised equity, and the
Capital Regional Hospital District is providing about $1.3 million. Island Health will be providing operating funding of around $5.3 million.