Digital renderings show what the Cook Street Plaza will look like. (File contributed/ Chard Development)

Digital renderings show what the Cook Street Plaza will look like. (File contributed/ Chard Development)

New Victoria development to feature 104 guaranteed below-market homes

Chard Development’s Cook Street Plaza will create 211 new residences total

A new development which will include 211 new housing units has been approved by the City of Victoria.

The Cook Street Plaza, by Chard Development at 1100-1120 Yates St. and 1109-1115 Johnson St., is comprised of three buildings – one an existing professional building which the developer will take over and modify with new windows, and two completely new buildings.

The first, a six-storey building called The Haven, will be comprised of 104 affordable housing units, ranging in size from studios to three bedrooms (from 520 square feet for a one bedroom to 1,011 sq. ft. for a three-bedroom unit). These units will be sold at 10 per cent below market value as part of the Affordable Home Ownership Program through BC Housing. Eligible home buyers must not already own a home, and must be a B.C. resident.

ALSO READ: Victoria developer reveals proposed next phase of Dockside Green

“This means they are likely moving out of a rental or non-ownership home,” said Byron Chard, CEO at Chard Development. “I think that’s a fantastic opportunity to move people up the housing continuum, and free more units in the rental market.”

The second building will be 12 storeys tall and offer 107 condominiums from 509 sq. ft. for a one bedroom unit to 1,318 sq. ft. for a three bedroom unit. Studios are also available.

Also included on the second floor of this building is a dedicated childcare space, which will be able to accommodate 75 children. The bottom floor will be designated for retail space.

ALSO READ: ‘Affordable’ a matter of perception for downtown Victoria development

Between the buildings there’s a common courtyard area which will include benches, greenery and a children’s play area.

All two and three-bedroom units will come with one parking spot, while smaller units will have the option of purchasing a parking space.

Shovels are set to hit the ground in the fall of 2020, with The Haven hopefully being move-in ready in 2022, and the 12 storey building shortly after.

“This is the most necessary housing that the community needs and wants,” Chard said. “We saw that real need and we’re excited to inform the public of this opportunity.”

nicole.crescenzi@vicnews.com

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Digital renderings show what the Cook Street Plaza will look like. (File contributed/ Chard Development)

Digital renderings show what the Cook Street Plaza will look like. (File contributed/ Chard Development)

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