OBUC’s ultimate goal is to continue delivery of its ministry and services to the Oak Bay community for the next 100 years, and beyond. We are seeking to accomplish this by developing a portion of our property for affordable housing and community programming that will generate rental income to contribute to the sustainability of OBUC.
We are contributing our land and not looking to turn a large, short-term profit. Rather, we are aiming for the rental income from our housing complex to cover all of the associated expenses including the mortgage, property management, property maintenance (including OBUC annual capital maintenance), existing debt and program support.
Achieving this goal will ensure OBUC does not incur a deficit as a result of the project.