Tight market for student housing at UVic to ease with construction of nearly 800 homes

The British Columbia government says it is on track to have nearly 800 student homes ready at the University of Victoria by 2022.

Premier John Horgan says the homes will be provided to UVic students at market rates, significantly relieving the tight rental market for student accommodation in Greater Victoria.

"Whether you are a new or returning student, finding affordable housing can be a difficult assignment," said Horgan.

Funding for the project  — $123 million from the provincial government — was originally announced in 2018.

Horgan made the announcement in front of a construction site at the campus where the two new housing facilities will be located, along with a dining hall, new study areas, Indigenous student lounge, shops and a small grocery.

The first building is expected to open its doors in 2022. 

A statement from the university says, when completed, the project will produce 783 beds for students, including 621 new beds and 162 replacement beds.

It says nearly 75 per cent of its student population — approximately 22,000 students — comes from outside of the Greater Victoria area. 

Horgan says the construction is part of a government commitment to produce 5,000 student homes over the next six years in locations from Vancouver and Burnaby to Kamloops and the Okanagan.

The province says the UVic development is the first major capital project at the university since a new campus plan was completed in January 2016.