The partnership – between the province, BC Housing and Chard Development – will see 104 units built in Haven, a six-storey condominium project at 1109 and 1115 Johnson St.
BC Housing will administer the second mortgage for all 104 units and buyers will not need to repay the mortgage until the 25-year term limit expires or they sell the home.
“Haven is our second affordable homeownership offering in partnership with BC Housing and is a reflection of our commitment to creating a diversity of housing in Victoria,” said Byron Chard, president and CEO, Chard Development.
Display suites are open for presale, but the project is already 70 per cent sold, according to the Chard website.