Hudson’s affordable housing financing dropped
A complex partnership designed to bring new, subsidized apartments to lower-income families and individuals at Downtown’s Hudson complex has been scrapped after one of the group got cold feet and dropped out. The Fisgard Street highrise will instead be built as market rental housing without the help of BC Housing financing.
Hudson Mews is phase two of the Hudson complex which in total comprises a rehabilitated Bay building and three new towers built by the Townline Group of Companies. Hudson Mews is the shorter of the three towers approved by the City.
In an early-morning event in the old Bay parkade last December, Provincial Minister of Housing and Development Rich Coleman and Victoria Mayor Dean Fortin announced the $32 million affordable housing plan that would have seen TL Housing Solutions, a Townline spin-off company, team up with two-non profit agencies to finance and construct the 12-storey tower. The City of Victoria planned to give the project an $800,000 grant. The 120 suites would have been a mix of rental and owned units offered at 90 per cent of the cost of comparable market construction.
It is believed concerns that the Hudson Mews project did not conform to the mandate of BC Housing led to the agency canceling the deal. Townline director of residential development Bob Pearce said BC Housing’s decision to pull out of the agreement means Townline will complete the building themselves and offer the suites as non-subsidized rental units. Commercial units remain on the ground floor. Construction is expected to resume later this year.
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Responses to this Headline or Article
The five most recent replies to VibrantVictoria.ca's discussion forum's [Downtown Victoria] The Hudson Mews | Rentals | HBC redevelopment; Phase II | 12-storeys | U/C thread, the most relevant thread to the above headline or article:
Mike K.Oct 19, 2013 at 11:42 am
Era will also be a nice dose of box. But I agree, this is a perfect example of a building turning out far better than the rendering.
NparkerOct 19, 2013 at 4:37 pm
Quote: I'm amazed at how well this building in turning out, far more attractive than the initial renderings...
I have never seen more than the rendering at the top of this thread. Is there someplace where one can view additional renderings of this project?
Mike K.Oct 19, 2013 at 4:41 pm
Not that we've been able to find. I guess they didn't want to pay for an all out high-def depiction for a project that will be promoted only once built and will not require renderings for presales.
MarkoJNov 10, 2013 at 1:38 pm
November 10th, 2013.
Dylan LeblancNov 10, 2013 at 1:48 pm
Quote: It will look good when they install the wing-a-ling overhang on the roof line.