The Greater Victoria Housing Society has committed to retaining the existing rental rates upon unit turnover, with adjustments for inflation.
James Bay renter Darlene Haynes can relax now that her Michigan Street apartment building will remain affordable, following its purchase by the Greater Victoria Housing Society.
Both buildings have rents that are an average of 37 per cent below market rate and are close to transit services and stores. “I guess the constant is: Are we going to be evicted? Are there going to be renovictions?” she said. “That’s way up there in terms of the fears, especially for people that are low-income and have lived for here a very long time.”As a retiree living on a fixed income, she said that knowing rent will be stable is very important to her.
“And when the average renter median income in Victoria is $64,000 per year, this is exactly the affordability we need to be supporting and protecting,” she said.
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