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Province provides $10M for development of 87 affordable rental homes in Parksville

City and the Regional District of Nanaimo waive development costs totalling $725,000
A rendering of the affordable housing site at Moilliett Street South in Parksville. (Submitted photo)

Work is underway on a new housing development in Parksville that will provide 87 affordable rental homes for families, seniors and people living with disabilities with moderate and low incomes.

“These homes will go a long way to addressing the critical need for affordable housing in Parksville,” said Adam Walker, MLA for Parksville-Qualicum. “I look forward to seeing the difference these new rental homes will have on the lives of the families and seniors that will call this place home.”

Some of the homes, located at 360 Moilliet Street South, will also be geared to people who have been commuting into town for work, because they can’t find affordable housing in Parksville.

READ MORE: Affordable housing project in Parksville to get 100 per cent development cost charges exemption

The new development will consist of eight, three-bedroom townhomes and a 79-unit apartment building with one- and two-bedroom options.

The province is providing approximately $9.5 million through the Building BC: Community Housing Fund and will provide approximately $598,000 in annual operational funding. The City of Parksville and the Regional District of Nanaimo waived development costs totalling $725,000 for this development.

To help preserve the large mature trees and provide natural stormwater management, a 0.5-hectare (1.25 acre) parkland on the building site is being protected as park space.

The building will be operated by the Nanaimo Affordable Housing Society, which will have on-site office space.

People are expected to start moving into their new homes in spring/summer 2023.

— NEWS Staff

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