The federal government announced Tuesday that it will be providing $13.25 million in funding for a six-storey, 60-unit micro-suite building in Victoria.
The Sawyer Block, which is under construction on Fort Street, will feature 44 studio apartments and 16 junior one-bedroom homes.
The bachelor units will be 285-square feet and the one-bedroom suites will be 358-square feet.
Ten per cent of the units will be accessible.
According to the federal government, rents will be below 30 per cent of median household income in the area.
“The project is receiving funding through the Rental Construction Financing initiative (RCFi), a National Housing Strategy program delivered by CMHC [Canada Mortgage and Housing Corporation] that supports affordable rental housing construction projects to encourage a stable supply of rental housing for middle-class families struggling in expensive housing markets across the country,” a statement from the federal government said.
The building, which is being developed by The Salient Group, is one of the first projects in Victoria to receive construction and project financing from the RCFi.