MIL OSI Translation. Canadian French to English –
Source: Government of Canada – in French
March 11, 2024 – Victoria, British Columbia – Department of Finance Canada
The Honorable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, today visited Hudson House in Victoria to highlight how Canada’s economic plan is building more housing, faster.
With $100 million in funding provided by the federal government through the Apartment Construction Loan Program, people are already moving into the Hudson House at 1700 Blanshard Street, which will provide housing for 245 families. The Hudson House is part of the larger Hudson District project, which includes a total of more than 950 housing units spread across six buildings.
The construction of these 245 rental units is the perfect example of how the federal government is building more housing for everyone, including families, young Canadians and people with disabilities. Hudson House, which includes 39 accessible units, will provide 227 rental units at a rate equal to or less than 30% of the area’s median household income. In order to protect tenants, the fixed rate will be maintained at least until 2040 to ensure the affordability of these housing units.
Hudson House is a sustainable mixed-use building, which will produce nearly 20% fewer greenhouse gas emissions than a typical mixed-use building. With more than 8,300 square feet of commercial space, Hudson House will help businesses locate and grow their businesses in the neighborhood. This commercial space will make Hudson House a place where people can comfortably live, work, play and obtain the products and services they need.
In addition to the Hudson House, the federal government’s economic plan made it possible to build other housing nearby:
60 units at 840 Fort Street, thanks to $13.25 million in financing from the Apartment Construction Loan Program; 47 units at 220 Cook Street with $21.14 million in financing from the Apartment Construction Loan Program.
Canada’s economic plan builds more housing, faster. The federal government is working with all levels of government to make housing more affordable for Canadians living in Victoria and across the country.
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.
