New affordable rental homes coming to Nanaimo
NANAIMO − Middle-income families and individuals in Nanaimo will soon have access to 120 new, affordable rental homes in their community as construction gets underway on two new apartment buildings.
“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. “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.”
Construction is set to start in August on two apartment buildings at 4745 Ledgerwood Rd., which will provide 120 rental homes for people in Nanaimo, thanks to a partnership between the Province and WestUrban Developments. The project is being built through BC Housing’s HousingHub, which was created by the Province in 2018. The HousingHub works with community, government, non-profit and private-sector partners to help create new affordable rental housing and home-ownership options for middle-income British Columbians.
“We commend the Province of British Columbia and WestUrban Developments for their commitment to developing 120 new market rental units for middle-income earners in Nanaimo as these units will be a welcomed addition in our community, and will help move people along the housing continuum,” said Leonard Krog, mayor, City of Nanaimo.
The new rental homes are designed to be affordable for households with annual incomes between $44,000 and $76,000. The projects will have studio, one-bedroom, two-bedroom and three-bedroom homes. Monthly rents will range from $1,100 for a studio to $1,900 for a three- bedroom unit. Residents are expected to move in spring 2022.
“We are very excited to partner with BC Housing on another project to help address middle- income rental housing needs,” said Sean Roy, CEO, WestUrban Developments Ltd. “The HousingHub is a phenomenal program that is making a difference within British Columbia. This latest project will provide high-quality residential living in Nanaimo, and we look forward to continuing to partner with BC Housing on future developments.”
Delivering affordable housing is a shared priority between government and the BC Green Party Caucus and is part of the Confidence and Supply Agreement.
- The Province, through the Housing Hub, is providing interim construction financing of up to $24.8 million for this project in Nanaimo
- Since 2017, the Province has provided funding for nearly 850 affordable homes in Nanaimo, including:
- HousingHub: 270 homes for people with low to middle incomes
- Community Housing Fund: 159 affordable rental homes for people with low to middle incomes
- Women's Transition Housing Fund: 10-bed women's transition house
- Supportive Housing Fund: 164 homes for people experiencing homelessness
- Affordable Rental Housing Program: 159 affordable rental homes for seniors
- Deepening Affordability Fund: 85 affordable rental homes for low-income people and those with developmental disabilities
For more information on how BC Housing is supporting British Columbians during the COVID-19 outbreak, visit: https://www.bchousing.org/COVID-19/
A map showing the location of all announced provincially funded housing projects in B.C. is online: https://www.bchousing.org/homes-for-BC
To learn about the steps the Province is taking to tackle the housing crisis and deliver affordable homes for British Columbians, visit: https://workingforyou.gov.bc.ca/
A backgrounder follows.
Ministry of Municipal Affairs and Housing
BC Housing Media Relations
Province building new homes to meet full spectrum of housing needs
The B.C. government is working in partnership with non-profits, municipalities, First Nations, Indigenous housing organizations and the private sector to build 114,000 affordable homes that cover the full spectrum of housing needs for British Columbians by 2028.
Budget 2018 included a $7-billion investment in the homes people need. As a result of that investment, more than 23,000 new homes are completed, under construction or in the approvals process for a range of people who are struggling to find a place to live, from people who are experiencing homelessness and seniors on fixed incomes, to middle-income families, students and individuals. As of Dec. 31, 2019, this includes:
Housing for people with middle incomes
The average annual household income qualifying for homes underway is under $99,000 per year:
- HousingHub: 2,802 homes
Housing for people with low to moderate incomes
This includes people residing in social housing (household incomes less than $65,000) as well as those living in affordable market rentals (households with annual incomes up to $74,000) – 9,837 homes:
- Building BC: Community Housing Fund (30% of units in each project): 1,565 rental homes for people with low to moderate incomes
- Affordable Rental Housing Program: 1,615 homes for people with low to moderate incomes
- Deepening Affordability Fund: 1,976 homes for people with low to moderate incomes
- Regional Housing First Program: 907 homes for people with low to moderate incomes
Social housing or subsidized rents:
- Building BC: Community Housing Fund (50% of units in each project): 2,609 rental homes for people with low incomes
- Building BC: Indigenous Housing Fund: 1,165 homes for Indigenous peoples, on- and off- reserve
Housing for people with very low incomes
Rental housing for people experiencing or at-risk of homelessness, or for people with very low incomes (includes supportive housing and shelter-rate housing) – 4,795 homes:
- Rapid Response to Homelessness: 2,012 homes with 24/7 support
- Building BC: Supportive Housing Fund: 1,060 homes with 24/7 support
- Building BC: Women’s Transition Housing Fund: 679 spaces of transition, second-stage and affordable rental housing for women and children leaving violence
- Building BC: Community Housing Fund (20% of units in each project): 1,044 homes
Housing for students – 5,584 homes:
- BC Student Housing Loan Program: 2,699 on-campus student housing units are under construction, in development or in the approvals process
- 2,885 student housing units are also completed, under construction or in development through partnerships with post-secondary institutions
Total: 23,018 homes
Ministry of Municipal Affairs and Housing