Work is starting on a new affordable-housing apartment building in north Nanaimo.
The provincial government announced Tuesday, Jan. 25, that work is getting underway on a four-storey, 53-unit apartment building at 6010 Hammond Bay Rd.
Half the units will be designated affordable housing by Canada Mortgage and Housing Corporation’s definition, meaning rent will be 30 per cent of the tenant’s income.
“Some of the units will be rented to households with very low incomes, such as those receiving income or disability assistance, or a seniors’ pension. Others will be at or below market rent,” noted a press release from the province.
The project is a partnership between the federal and provincial governments, the Nanaimo Affordable Housing Society and the City of Nanaimo. The feds have granted $6.25 million and the province will provide $125,000 plus approximately $340,000 in annual operating funding.
The city is waiving more than $200,000 in development charges. The affordable housing society will operate the building.
“Council is excited to welcome to north Nanaimo these affordable units in a project specifically designed to accommodate a diverse range of people and families,” said Nanaimo Mayor Leonard Krog in the release. “In a community that is desperate for housing, this is cause for real celebration.”
Andrea Blakeman, CEO of Nanaimo Affordable Housing Society, said in the release that her organization is excited to be partnering on a “stunning” development.
“Close to shopping, schools, the library and many other amenities, this unique project brings affordability to north Nanaimo where no similar housing currently exists,” she said.