About Subsidized Housing
In subsidized rental buildings, a subsidy often covers the difference between what residents can afford and the cost of operating the building. Rent is determined based on income: tenants receiving income assistance may pay a flat rate, while those not on income assistance may pay 30% of their gross monthly household income.
To be considered for a Cool Aid subsidized building, prospective tenants must have an active file with the BC Housing Registry. Tenant selection is based on various factors including need, internal transfers, suitability, external agency referrals, building mix, and community priorities.
Read more about tenant income eligibility below.
Crosstown
Crosstown features 100 rental apartments, including 70 subsidized units. The building offers a range of studio, one, two, and three-bedroom suites, including accessible options. Crosstown is a unique mixed-use development.
Application inquiries: crosstownrentals@coolaid.org
The Chestnut
There are 17 subsidized studio units at The Chestnut including accessible options. With secured parking and bike storage, The Chestnut is conveniently located on several major bus routes minutes from downtown Victoria.
Application inquiries: chestnutrentals@coolaid.org
Mount Edwards
The 3rd floor of Mount Edwards offers 15 total studio and one-bedroom subsidized apartments for seniors over the age of 55. The building is conveniently located near the YMCA, downtown Victoria, and Cook Street Village.
Application inquiries: affordablehousing @coolaid.org
Tenant Income Eligibility
For a deeply subsidized unit, income must be below BC Housing’s deep subsidy income limits:
Units that are 2 bedrooms or less – $23,549
Units that are 2 or more bedrooms – $29,436.
For those whose income is greater than the deep subsidy income limits, we have a mix of flat rate and rent geared to income (30%). Income must be below BC Housing’s housing income limits:
Studio or 1 bedroom – $50,000
2 Bedroom – $65,000
3 Bedroom – $82,000
