Affordable Housing at Vivid at the Yates
May 11, 2021
We’re proud to be involved in this affordable housing project by BC Housing and Chard Development at 845 Johnson St, Vivid at the Yates.
BC Housing posted a News article this week announcing that all 135 condominium units have been sold to middle-income families in Victoria, and the new owners are moving in this month.
Proscenium provided full interior design services for the building.
ABOUT THE PROGRAM
The project was financed through a 2017 pilot project with BC Housing’s HousingHub: Affordable Homeownership Program (AHOP). The Province provided a low-interest construction financing loan of approximately $52.9 million to Chard Development to develop the project. Families with average household incomes of $60,000 were eligible to buy units. The model was so successful, the developer is exploring options for a second building in Victoria.
Learn more about the program here.