Instead, Aragon will offer the reduced rent, a total of $161,356.80, to the city’s Affordable Housing Fund. Aragon had also tried to subsidize rent in its commercial strata unit at 2-280 Cook Street to allow for a daycare with reduced rent, but was ultimately outvoted to the building’s strata. In lieu of supplying affordable housing units, Aragon has offered nearly $500,000 in funds to the city, including $136,163.47 in Community Amenity Contributions (CAC). However, we do recognize the need to provide affordable housing in Victoria and thus have decided to make a contribution to the Affordable Housing Reserve fund,” wrote Lenny Moy, president of Aragon (Cook) Properties Ltd.
#One pic one flic full#
“We believe a full re-design would ultimately result in a building which the community will not be satisfied with.
In 2018 the City of Victoria had asked the developer to go back and assess the project’s ability to include affordable housing units.Īragon concluded this would not be possible without third-party funding from the province, and that in this case the entire project would have to be redesigned.ĪLSO READ: Pic-A-Flic leaving Cook Street Village after 35 years first purchased the properties in 2017 it proposed six storeys, but after significant discussion with the community, reduced it to four along with other accommodations. In addition there are 535 square metres of commercial floor space on the ground floor. The proposed four-storey residential building will host 48 units, including 11 one-bedroom, 28 two-bedroom and nine three-bedroom units.
Pic-a-Flic had been on site for 35 years and moved in 2018. The City of Victoria is scheduled to consider a development taking over the former home of the Pic-A-Flic video renal shop in Cook Street Village.
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