A $7-million investment will create some of the first major rental units built in Tofino, B.C. in decades. Inside a three-storey low-rise apartment building at 363 Peterson Drive, 37 new affordable rental homes will include a mix of studio, one-bedroom, two-bedroom, and three-bedroom units, including eight fully accessible units.
Half of the units will be rent-geared-to-income where rent is 30 per cent of the tenant’s income; 20 per cent of the units will be rented to people with very low incomes, such as those receiving income or disability assistance. The remainder will be at or below-market rent.
There will also be indoor and outdoor common spaces, laundry facilities, and an indoor amenity room for families, seniors and members of the local community with low to moderate income. The site is located within one kilometre of public transit, grocery stores and a neighbourhood park. Construction is expected to be complete in winter 2023.
“For decades, Tofino has struggled with a lack of affordable housing, and it has long held a vision to provide secure, affordable homes for the people and families that make Tofino the community that it is,” said Josie Osborne, MLA for Mid Island-Pacific Rim.
“As the former mayor and a long-time Tofino resident, I am incredibly proud of the partnership, collaboration and perseverance that has brought the Headwaters development to fruition. These homes, in Tofino’s first purpose-built rental apartment buildings in over 40 years, are going to make an enormous impact for local employees, families, and seniors.”
Funding for this project is coming from the federal government, through the National Housing Strategy’s National Housing Co-Investment Fund, BC Housing’s Community Housing Fund, land equity from the District of Tofino, a grant from the Tofino Housing Corporation and cash equity from Catalyst Community Developments Society.
