120 affordable rental homes coming to Nanaimo
New affordable rental apartments intended for middle-income earners is coming to Nanaimo: (CTV News)
VICTORIA -- A total of 120 new affordable rental apartments are coming to Nanaimo through a partnership between BC Housing and development company WestUrban Developments.
Construction of the new apartments is expected to begin in August at 4745 Ledgerwood Rd. The apartments will be located in two buildings, which are expected to open in the spring of 2022.
The rental homes are intended for middle-income residents who earn between $44,000 to $76,000 per household.
Monthly rents at the two buildings will range from $1,100 for a studio apartment to $1,900 for a three-bedroom unit.
“People deserve safe and secure homes, but even middle-income people like teachers and small business owners have struggled to find affordable housing in Nanaimo,” said Sheila Malcolmson, MLA for Nanaimo, in a release Sunday.
“These new homes will mean that more people – from young families to seniors – have access to affordable housing in their community, close to their friends, family and work.”
The B.C. government is providing up to $24.8 million to build the two new apartment towers.
Earlier this year, the B.C. government announced a new housing development in Nanaimo for people with mental health and substance abuse challenges.
The development, located at the corner of Rosehill Street and Terminal Avenue, will provide 23 units of affordable housing. Monthly rent at this development will range from $375 to $800 per month.