Thursday, December 1 2022

The province, the city of Comox and the M’akola Housing Society secured six below-market rental units for low- and middle-income people.

The one-bedroom homes are located at 695 Aspen Street, where Highstreet Developments Ltd. built 208 rental units and 24 condominium units.

The developer has agreed to sell the six units to the City of Comox at a below-market price so they can be offered as permanent affordable rental units, the province of British Columbia said.

The province and city, through its Affordable Housing Reserve, provided matching grants of approximately $437,000. The province is also providing low-cost funding of up to approximately $410,000 to the M’akola Housing Society, which will own and operate the six units.

“This project is a great example of how strong partnerships can meet the need for affordable housing for residents of the Comox Valley,” said Ronna-Rae Leonard, MPP for Courtenay-Comox. “Thank you to the City of Comox and the M’akola Housing Society for working with our government to secure this housing which will make life more affordable for people in the community.

According to the province, the homes will be rented below market at $805 per month.

Older people may be eligible for housing assistance under the Shelter Aid for Elderly Renters (SAFER) program to further reduce rents.

Tenants will be able to move into all six units by March 15, 2022.

“We are thrilled to help bring six affordable housing units to the Comox Valley,” said Kevin Albers, CEO of M’akola Housing Society. “In this housing crisis, it takes a collective effort to find possible solutions.”

Since 2017, the province has funded over 300 new affordable homes that have been completed or are underway for residents of the Comox Valley.

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