Feds commit $72M for 234 new homes in Abbotsford

Two housing projects in Abbotsford are set to receive a total of $72 million from the federal government, with additional grants from the province, the city and Affordable Housing Societies.

The two projects will yield a combined 234 homes. The announcement was made Wednesday at 2946 Horn Street, where 104 homes are currently being built as part of the Canada-BC Builds Agreement, a $4 billion investment from the two governments. This is the first project built under the agreement, which seeks to create at least 9,000 new rental units throughout BC, with a minimum of 1,800 affordable units for middle-income earners.

The province is putting more than $13 million in grant money toward the Horn Street project through BC Builds at BC Housing and the feds are committing nearly $32 million. Affordable Housing Societies will deliver nearly $10 million in cash and land equity.

It will have a mixture of one- and two-bedroom homes, with indoor and outdoor amenities. It will also have additional trails on the property that will create easy access to nearby schools.

The second project, named The Douglas (formerly Montecito), will provide the other 130 homes. Located on George Ferguson Way, it will include “smaller self-contained units,” which the federal government says are “highly sought after by a range of demographics.” Each unit will have built-in air conditioning, in-suite laundry and some will have an additional guest suite.

The project is set to receive $40 million from the federal government and more than $7 million from the developer, Wiebe Properties.

"Abbotsford is a rapidly growing city, and access to safe, affordable housing remains a top priority for our community,” said Abbotsford Mayor Ross Siemens.

He says he’s “grateful for and encouraged by” the investment in rental housing from the province and Canada.