‘They require no down payment’: New Langford housing project offers affordable path to ownership

For many would-be homebuyers, saving for a down payment remains a major hurdle to entering the housing market.

A new townhouse development planned for Langford aims to offer another path to homeownership for dozens of qualifying households through Habitat for Humanity Victoria’s affordable ownership program.

Habitat for Humanity Victoria announced Tuesday it will build a 26-unit townhouse project on Irwin Road in the city’s Westhills neighbourhood in partnership with the City of Langford.

The development will be built in two phases and include a mix of two, three and four-bedroom homes.

“Phase one is 16 townhomes and phase two is the remaining 10,” Habitat for Humanity Victoria CEO Carmen Rempel said.

The project marks Habitat Victoria’s first housing partnership with the City of Langford. The municipality has committed funding for the first phase through its Affordable Housing Reserve Fund, which is financed through developer contributions collected as part of rezoning approvals.

City officials say the project will help address demand for family housing in the community.

“We hear a lot that families are needing units that will be the size to meet their needs, whether that’s a two-bedroom, two-bedroom-plus-den or a three- or four-bedroom,” said Langford Coun. Kimberley Guiry.

Unlike many affordable housing developments that focus on rental units, the project is intended to help qualifying families become homeowners.

Under Habitat’s model, applicants obtain a traditional mortgage through a lending partner based on what their household income can support.

Habitat then provides a second mortgage designed to ensure housing costs do not exceed 30 per cent of a family’s household income, according to the organization.

“They also require no down payment,” Rempel said.

The organization said homeowners can build equity in their homes while the units remain part of Habitat’s long-term affordable housing inventory. If an owner chooses to sell, Habitat has the first opportunity to repurchase the property.

“That allows us to reacquire that affordable housing stock and pass it on to the next family,” Rempel said.

The Langford development is one of two major projects Habitat Victoria is advancing in the Capital Regional District. The organization is also working toward a 13-unit townhouse project in Saanich.

Habitat Victoria says it has built 34 homes in the region and these the two developments will significantly expand the number of families it can serve in the coming years.

Langford Mayor Scott Goodmanson said the project supports the city’s efforts to increase attainable homeownership options for residents.

“Projects like these strengthen the community and help residents put down roots close to home,” Goodmanson said in a statement.

Habitat Victoria said applications for the Langford homes are expected to open after development approvals are secured. The organization hopes to complete the first phase of construction by the end of 2027.