Tofino Housing Corporation
Purpose: To Provide Attainable and Affordable Housing for Residents and Employees
PROJECT UPDATES
SOLD!
Well not quite. The Purchase Lottery for the Gateway 1 bedroom home involving 16 applicants, one a repeat from the last Purchase Lottery, was conducted on November 16th. The selected applicant has been informed and all applicants made aware of their position in the Lottery. The selected applicant needs to complete the Offer and Purchase process, including securing financing. If for whatever reason the Offer or Purchase process is not completed by that applicant, the second applicant on the list will get an opportunity. We thank everyone who participated in the process - whether you submitted an application or not. See the Housing For Sale page for the draw order and more details on Price Restricted Resident Restricted housing.
SHARP RD: EXPECTED CONSTRUCTION START FEBRUARY, 2021
Catalyst Community Developments Society had been targeting a fall construction start, but the revised target is February, 2021. The project has been Prioritized (e.g. provisionally selected) for a grant and financing by the CMHC Co-Investment Fund. Catalyst, CMHC and THC representatives have been working through confirming the required legal agreements, Lease amendments and financial approvals. On October 27th, 2020 a revision to the Housing Agreement requested by CMHC was approved by Council. It is expected the final steps in the CMHC approval processes will be complete in time to allow for a February construction start.
DL 114 AFFORDABLE HOUSING: REZONING COMPLETE / WAITING FOR BC HOUSING FUNDING ANNOUNCEMENT
The rezoning of the two new apartment and the three duplex lots is now complete. The subdivision process is nearing completion and transfer of the lands to the THC is expected to occur soon. Catalyst Community Developments Society, with the support of the THC, has submitted a funding application to the BC Housing Community Housing Fund and is waiting for a selection announcement. The Community Housing Fund is expected to award funding for 3000 units of new affordable rental housing across the Province. Catalyst has proposed building the Lot 2 apartment first. Should the DL 114 project be selected, construction is likely to start in 2021.