Upon further examination and numerous discussion with BC Housing and other government agencies it has become abundantly clear that it is not economically feasible for us to build an affordable rental project. This is partly due to the insufficient funding provided by BC Housing and the rising cost of construction. This is a problem that is being reflected province-wide and in fact nation-wide. The BC government proposed to build 40,000 new homes and has in fact has only been able to deliver a few thousand of that number. As a result, we have decided to go back to affordable home ownership, even though that is going to be difficult, at least it appears possible. We are working hard on overcoming the barriers – of which being able to provide water to the project is the main one.
An Affordable Neighbourhood on Salt Spring Island