The City of Colwood recently allocated up to $488,000 from the Affordable Housing Reserve Fund towards supporting the redevelopment of Colwood Lodge. (Black Press Media File Photo)

The City of Colwood recently allocated up to $488,000 from the Affordable Housing Reserve Fund towards supporting the redevelopment of Colwood Lodge. (Black Press Media File Photo)

Colwood pitches up to $488,000 towards affordable housing project

Colwood Lodge to be redeveloped into 15-storey building

Colwood council took a leap towards supporting a local affordable housing project.

Council recently allocated up to $488,000 from the Affordable Housing Reserve Fund towards supporting the redevelopment of Colwood Lodge.

The new building is set to provide housing opportunities for people with varying ranges of incomes and in different phases of life.

“Creating a range of housing types in our community ensures there are options for everyone, including people on median incomes, single parents, seniors and adults with disabilities,” stated Colwood Mayor Rob Martin in a news release. “These are everyday people for whom current housing costs and low vacancy rates can make homelessness a real possibility.”

The current four-storey, 50-unit building, located behind London Drugs, is being redone through the Greater Victoria Housing Society. The society plans to redevelop the site into a 15-storey building with around 119 units.

In 2019, the city allocated $496,000 from the Affordable Housing Reserve towards construction of 124 units on Wale Road. The project is being built by the Aboriginal Land Trust.

For more information and a look at other previously funded projects, visit colwood.ca.