Twenty-seven new affordable homes are now available for moderate- to middle-income families and individuals with the opening of a new rental apartment building in Nanaimo.
“People deserve to have access to safe and affordable housing in our community,” said Doug Routley, MLA for Nanaimo-North Cowichan. “I want to thank our community partners, like the Nanaimo Affordable Housing Society, who are working with us to make sure people have a good place to call home.”
Located at 858 Georgia Ave., the building provides one- and two-bedroom rental homes for households with annual incomes ranging between approximately $44,000 and $68,000. Monthly rental rates range between $1,100 and $1,700. With vacancy rates in Nanaimo at around 2.5%, these new homes will provide much-needed additional rental supply to the community.
The development was purchased by the Nanaimo Affordable Housing Society with support from a BC Housing program called the HousingHub, which was created by the Province in 2018. Government is providing approximately $9 million in low-cost financing, which will reduce the project costs for the society. Those savings will be passed on to the people who live there through lower monthly rental rates.
The society will manage day-to-day operations of the building. People have just started to move into their new homes.
“This new project is a welcome addition to our housing stock for moderate- and middle-income singles, couples and small families,” said Andrea Blakeman, CEO, Nanaimo Affordable Housing Society. “It’s really a lovely building and will be a great place for people to call home. We are very pleased to be working with the Province and the HousingHub on creative projects like this, which benefit the whole Island community with expanded affordable housing choices to suit a wide variety of families and needs.”
The project, which was completed in October 2019, is conveniently located next to a grocery store and is close to parks and Vancouver Island University.
“We thank BC Housing and the Nanaimo Affordable Housing Society for their ongoing investments to provide a variety of affordable housing options to meet the needs of our community,” said Leonard Krog, mayor, City of Nanaimo. “This important project meets the goals set out in the city’s Affordable Housing Strategy to increase rental opportunities for low- to- moderate-income households in a location that is walkable to schools, shops and recreational opportunities.”
Delivering affordable housing is a shared priority between government and the BC Green Party caucus, and is part of the Confidence and Supply Agreement.
Quick Facts:
The HousingHub works with community, government and non-profit and private-sector stakeholders to help create new affordable rental housing and home-ownership options for middle-income British Columbians.
Through provincial investments, more than 22,000 new homes are complete, under construction or in development for people with a range of incomes throughout the province. This includes more than 880 homes in Nanaimo.
