Victoria City Council has committed $1.8 million from its Housing Reserve Fund towards the development of two proposed affordable housing projects.
The funds will provide 138 homes for seniors, single working adults, people with disabilities and families.
Mayor Lisa Helps says the city's contribution will ``leverage significantly higher investment from other levels of government,'' to create the affordable housing developments -- one in James Bay, the other in the Hillside-Quadra neighbourhood.
In the James Bay neighbourhood, the Capital Region Housing Corporation is proposing to redevelop an existing three-storey, 62-unit building into a four-storey building with 98 units of affordable housing. The City has committed $1.3 million towards the project, subject to development permit approval.
In the Hillside Quadra neighbourhood, the Greater Victoria Housing Society proposes to create 40 units of affordable housing in a new five-storey building by redeveloping an existing three-storey,19-unit building in Quadra Village. The City has committed $440,000 towards the project, subject to rezoning and development permit approvals.