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Capital Regional District residents benefit from stability provided by CRHC

Capital Regional District

About this story

The Capital Region Housing Corporation (CRHC), a not-for-profit provider of affordable housing in Victoria, BC, has a long history of providing affordable housing to people in need. With almost 1,300 housing units, CRHC is committed to the development, management and promotion of affordable housing that is essential for the well-being of people and communities in the Capital Region.

When a pull-back of federal and provincial funding threatened CRHC’s plans for expansion, the CRHC turned to Vancity for help. Vancity worked with the housing provider on an innovative solution for long-term financing for a new, historic affordable housing development: Vergo.

“We took a global assessment of CRHC’s cash flows and equity position and offered a very competitive interest rate to make it come together,” says Vancity community account manager Douglas Hanson. “We hope to continue this relationship for CRHC’s future housing projects.”