Vital Signs Report gives housing failing grade, again

Greater Victoria has earned a “B” from this year’s Vital Signs Report, released yesterday by the Victoria Foundation. It’s the same score as last year.

“For nearly 20 years, Vital Signs has been helping the community identify and respond to the greatest challenges facing our region,” Victoria Foundation CEO Sandra Richardson said in a media release. “This year, the survey found cost of living, housing, and healthcare to be among the most important issues in Greater Victoria.”

The report looks at 12 areas and grades them based on data from a survey completed by more than 6,500 people as well as from sources curated by a local researcher

In the 2024 report, housing rated a D-, down from the D the area received last year. Health and wellness also fell from a B- to a C+ — as did the grade given to our standard of living.

Environmental sustainability earned a B, which is the same as last year.

On the positive side, sports and recreation increased from a B last year to a B+ this year. Belonging and engagement, arts and culture, and economy all stayed the same from last year.

The Vital Signs Report is available online at victoriavitalsigns.ca, as well as in print at various locations throughout the region.

New units added to affordable housing supply

Adding to Greater Victoria’s housing supply is critical. We need affordable homes for individuals and families who want to live and work in our region, and we need housing for vulnerable people at risk of falling through the cracks.

Last week, the Capital Regional District‘s housing agency helped announce the opening of 97 new rental units at Michigan Square in James Bay. The  Capital Region Housing Corporation project includes 23 homes at shelter rates, 22 at the affordable housing threshold of 30% of income and 51 at or below market rates.

“We’ve been hearing from employers for many years that finding and keeping workers is a challenge and one of the root causes of that is our cost of living,” Chamber CEO Bruce Williams said. “We’re lucky to live in a region that people aspire to move into but the high demand that creates on housing stock impacts the value of the available supply.”

Another 58 rental homes are also in the works, with 40 units at 2558 Quadra St. and 18 at 1276 Gladstone Ave.

The projects are able to move forward thanks in part to government leveraging underused land and offering loans for builders at better than bank rates.

Pre-approved housing designs available for download

The province has introduced a plan to speed up housing construction by allowing cookie cutter designs. The concept relies on “building blocks” that allow for adding elements such as a garage or bedroom. Homes can be up to three storeys.

“They include concepts for duplex, triplex, quadplex and townhouse designs. Also included are a variety of roof shapes and exterior finishes, so all the designs can blend in seamlessly with existing neighbourhoods, keeping with the intent of small-scale, multi-unit housing to add density,” the province’s media release said. “There are also designs for accessory dwelling units, such as laneway homes, and a fully adaptable cottage suitable for aging in place.”

The designs comply with the 2024 BC Building Code and can be customized for different lot sizes and specific site conditions. Designs can be downloaded at no cost.

The hope is that local governments and builders will quickly become familiar with the plans, leading to quicker approvals and construction.

Real estate summer slowdown typical for the season

Despite falling interest rates, Greater Victoria’s housing market slowed in August and the benchmark price for an “average” home in the region decreased.

A total of 545 properties sold in the Victoria Real Estate Board region this August, down 16.5% from July. The benchmark value for a single family home in August was $1,287,400, down from July’s value of $1,296,100.

“The final month of the summer is generally a rather relaxed one in terms of real estate sales and listings,” 2024 Victoria Real Estate Board Chair Laurie Lidstone said. “Many folks pause their home shopping activities or pause their sales listing to make the most of other summer activities and vacations. It’s no surprise that sales this year were so close to the sales from 2023 and that listings declined slightly from the number we saw in July.”

GVHS adds 68 affordable rental homes in Victoria

Affordable housing is vital to the health of Greater Victoria’s economy and The Chamber applauds news that 68 homes will remain accessible after being acquired by the Greater Victoria Housing Society. The GVHS purchased 68 homes on properties at 430 Michigan St. and 1500 Chambers St.

“We thank our partners, through the leadership of the Province, for working with us to purchase these two buildings in Victoria,” GVHS executive director Virginia Holden said. “For years to come, we will be able to preserve these units as affordable housing, ensuring that the residents have high-quality, safe, accessible and sustainable homes.”

The society has more than 65 years of experience and looks after 1,000 homes that house families, people living with disabilities, families and working singles and couples.

The Michigan Street property has 44 homes ranging in size from studio to two-bedroom units and 1500 Chambers St. has a total of 24 one-bedroom and two-bedroom units.

Both properties are close to transit and shopping and rent at below current market rates. Approximately 70% of homes in the two buildings are affordable for households earning median renter incomes in Victoria.

Chamber calls on feds to focus funds on military housing

The Chamber’s proposed policy resolution calling for investment in military housing has successfully taken the next step to being officially adopted by the national chamber network.

After passing an initial review, the proposed resolution will be debated at the Canadian Chamber AGM in October.

Greater Victoria Chamber of Commerce staff worked with the Halifax Chamber of Commerce to craft the policy proposal, titled: Adding to Canada’s housing supply by strengthening Canada’s military through housing on military bases.

The resolution argues that the availability of secure and affordable homes is crucial for the retention and recruitment of members of the armed forces as well as for regional economies affected by a lack of housing.

By creating new housing on available Department of National Defence lands, Canadian Armed Forces members will be less dependent on market housing, which in turn will open up more homes for residents who work outside the military.

“We’re asking the federal government to focus funding — that it’s already announced for housing — in a way we believe will provide an effective boost to our national economy,” said Chamber CEO Bruce Williams, who is a member of the national Chamber Network Review Committee.

Camosun College getting on-campus housing at last

Funds announced today will provide on-campus housing for Camosun College students at the Lansdowne campus.

“This is something that The Chamber has long advocated for, and we’re happy to see funding finally made available,” Chamber CEO Bruce Williams said. “Building housing for students will open up affordable homes in the community. This is a smart solution to the housing crisis and will help people who face challenges finding a home in our region.”

The $154.7 million six-storey building is expected to be ready by fall 2027 and will house 423 students in single, studio and quad-unit types. The building will be constructed using mass timber, targeting LEED Platinum Standards.

Camosun is contributing $3 million to the project, with the rest of the funding coming from the province.

“On-campus housing brings various social, academic and personal benefits, including greater retention rates, while freeing up rental spaces in the surrounding communities,” Camosun College president Lane Trotter said.

New supportive housing units a good investment

A new five-storey building has opened at 953 Balmoral St. with 56 units of supportive housing operated by the Cool Aid Society.

“We are very excited to have partnered with BC Housing to offer 56 brand new units of supportive housing at one of Cool Aid’s original sites,” Cool Aid CEO Elin Bjarnason said in a media release. “The building at 953 Balmoral is beautiful – both inside and out – and we know that people will be thrilled to call it home.”

Having homes for people is the cornerstone for safe communities, which enable businesses to create a vibrant, healthy economy that works for everyone. Chamber members have identified housing as an advocacy priority, and we continue to work to support the construction of more homes in our region. We also recognize that people experiencing homelessness often face mental health and addiction challenges and need housing with appropriate care.

“It should be common sense that everyone benefits when we invest in helping people to be part of our community and not become street entrenched,” Chamber CEO Bruce Williams said. “Our community partners at Victoria Cool Aid Society and BC Housing are doing some heavy lifting that will make life better for all of us.”

Real estate market continues showing signs of calm

The region’s real estate market appears to have taken a deep breath in June, as overall sales were down 13.4% from May. The numbers reflect seasonal expectations.

“I think this is good news, as the more stable the market is, the more it supports both buyers and sellers,” Victoria Real Estate Board Chair Laurie Lidstone said in a media release. “If we continue to see seasonal norms in our market, the upcoming summer months will be slower and quieter than spring was, as consumer priorities shift to vacations and outdoor pursuits. If the pattern continues, we’ll likely see an increase in activity as fall nears.”

There were 3,460 active listings at the end of June, up 3.7 % from May.

June’s benchmark value in the Victoria Core was $1,295,500 for a single family home and $567,900 for a condo.

Access to help key to making community safe for all

Feeling safe at home and at work is a fundamental requirement for good business and great community. The Chamber supports initiatives such as two recent announcements about investments in housing and support programs to help people reintegrate into society.

Access Hub for Street Community
The City of Victoria has agreed to provide up to $1.8 million for the operations of a new access hub facility at 2155 Dowler Pl. that reduces the risk and impacts of homelessness. Funds come from the Financial Stability Reserve, which can be used in situations related to public safety.

The 5,264 square-foot property will include community space for people to have immediate access to supports aimed at breaking the cycle of homelessness. The property will be fenced and security will be on site to address any impacts on neighbouring properties

Transitional Housing for Fresh Start
On Tuesday, the province announced plans for 28 transitional homes with supports for people leaving the correctional system. Located at 736 Princess Ave., the six-storey building will be owned and operated by the John Howard Society of Victoria, which is dedicated to helping people with programs and services focused on employment, housing, mentorship and restorative justice.

The building will be the John Howard Society’s new headquarters. The upper floors of the building will have 28 studio apartments, each with a private washroom and kitchenette.