A rendering of the two-building, six-storey project proposed by the Capital Region Housing Corporation for McCoy Road, which is depicted at the far left. (crd.bc.ca)

A rendering of the two-building, six-storey project proposed by the Capital Region Housing Corporation for McCoy Road, which is depicted at the far left. (crd.bc.ca)

Capital Region Housing targets Saanich for its next subsidized redevelopment

McCoy Road proposal would replace 12 townhomes with 119 units of varying sizes

The Capital Regional Housing Corporation is looking to further upgrade its stock of subsidized units in Greater Victoria, and has a project in Saanich being reviewed by municipal planners.

The Campus View proposal, budgeted at $39.26 million, looks to replace the existing three clusters of four townhouses at 2249 McCoy Rd. with two six-storey multi-family buildings that would have 119 units. The proposal would require a rezoning from the RT-2 zone to RA-11 as well as an amendment to the official community plan.

The property is nestled amidst the former Velox rugby field, the University of Victoria’s campus community garden and UVic’s rugby fields. It extends to McKenzie Avenue at the opposite end.

The mix of units is 20 studios, 52 one-bedrooms, 12 two-bedrooms and 35 three-bedrooms, with 10 to 12 units being accessible for people with physical disabilities. The project would include a 65-stall underground parkade, with a handful of ground-level spaces.

In terms of rent, 20 per cent of the units would be targeted for those on income assistance, while the remainder would be offered at below-market rates.

The property, completed in 1983, was identified for redevelopment in the CRHC portfolio renewal, redevelopment and development strategy report in 2016. An FAQ page about the project at crd.bc.ca states that the buildings are reaching the end of their useful life without substantial upgrades.

The plan, while likely not needing to be enacted for some time as the project has yet to come before Saanich council, is to work with existing tenants on relocation to other CRHC units or with another social housing provider. They will be given right of first refusal to move back into the redevelopment and must meet eligibility requirements for the new spaces.

CRHC estimates completion by late 2025, depending upon the municipal approval process.

ALSO READ: Saanich looks to nail down amenity payment schedule for developments


 

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