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:
VicHockeyFanMay 05, 2013 at 8:25 am
I've noticed they have cleaned up what's left of the old parkade, installed fresh signage, and designated many spots for Hudson free customer parking. Maybe they did this some time ago. It might be a struggle to get people to be aware of it, but it will be needed when the market opens. Some good signage in the lane will help I guess.
gumgumMay 05, 2013 at 1:09 pm
I just wish they would get rid of that freakin thing.
VicHockeyFanMay 05, 2013 at 1:19 pm
Quote: I just wish they would get rid of that freakin thing.
Well, getting rid of it would not necessarily decrease parking, but it might, as now the roof is a handy construction materials storage area.
G-ManMay 13, 2013 at 12:09 pm
Supports for the top of the podium are being put in (or the floor of the fifth storey if you are so inclined). This project is looking good.
NanaimoiteMay 17, 2013 at 9:36 am
any update pic's?