Construction has begun on a 53-unit affordable rental-housing building designed to suit a range of incomes in the north end of Nanaimo.
The four-storey project brings together all levels of government and a non-profit society to construct badly needed rental homes.
It is scheduled to open in the summer of next year.
Nanaimo Mayor Leonard Krog said, “In a community that is desperate for housing, this is a cause for real celebration.”
Would-be renters face an ultra-tight market in Nanaimo. Canada Mortgage and Housing Corp. pegged the 2020 vacancy rate at one per cent, with the rate for bachelor apartments alone at zero per cent.
The Hammond Bay Residences will be a 50,977 square foot, wood-framed building in Nanaimo’s Dover neighbourhood.
It has been designed in a “C” shape with a central courtyard and will feature rooftop decks and green-roof areas.
Andrea Blakeman, chief executive of the Nanaimo Affordable Housing Society which will manage the building, calls the project “stunning.”
It is close to shopping, schools, a library and other amenities, she said. “This unique project brings affordability to North Nanaimo where no similar housing currently exists.”
The project will have 16 one-bedroom units, each from 710 to 764 square feet. There will be 37 two-bedroom units from 818 to 871 square feet.
The focus is on low-to-moderate-income tenants, consisting of individuals, families, seniors and people living with disabilities.
Half the units will be rented to tenants who will pay 30 per cent of their income for a unit. Some units will be at or below market rent, while other units will be rented to those on very low incomes, such as people receiving income or disability assistance or a senior’s pension.
The site will have a ground-floor communal space for tenants plus paths and meeting areas outdoors.
The building is being paid for with $6.25 million of federal money, $125,000 from the province, with another $340,000 also from B.C. for annual operating costs. The City of Nanaimo is waiving $221,000 in development charges.
cjwilson@timescolonist.com
