A new affordable housing unit will soon offer 65 homes and a car-sharing service for people with low to moderate incomes in Victoria.
Construction is underway on the Azzurro — a seven-storey mixed-use residential and commercial building designed for singles and couples in the city’s downtown core.
Located at 1950 Blanshard St., the building will feature a car sharing program, offering tenants an alternative to owning a vehicle. Two cars will be dedicated to the building and initially the costs will be covered by a $20,000 transportation fund.
The building will also include 80 bike stalls and provide tenants with easy access to public transit.
The upper floors will have 65 one-bedroom and studio rental apartments while the main and second floor will consist of commercial-rental units.
“Our housing goal includes creating access to secure and affordable housing and we do this by partnering on projects like the Azzurro, which will bring quality affordable rental apartments to the community,” said Victoria Mayor Lisa Helps in a news release.
In order to fund the project, the B.C. government is arranging $14.8 million in construction financing, the City of Victoria will provide $544,000 and the Capital Regional District’s Regional Housing Trust Fund will provide $495,000. The Greater Victoria Rental Development Society is providing $600,000 and $331,000 in development costs.
The Azzuro is expected to be completed by the fall of 2016 and will be operated by the Greater Victoria Rental Development Society.