B.C governments $1.9 Billion investment into low income housing sees its first tenants move in.
NANAIMO – Construction is complete on 23 new affordable rental homes in Nanaimo through a partnership between the Province and the Vancouver Island Mental Health Society.
“These new homes are part of our efforts to make sure people in need have a safe and affordable place to call home,” said David Eby, Attorney General and Minister Responsible for Housing. “We’re working hard to deliver hundreds of more homes like these in Nanaimo.”
Located at 285 Rosehill St., the three-storey building provides studio-unit homes. Vancouver Island Mental Health Society, an organization experienced in providing mental health and addiction supports and education, owns and manages the building.
Residents started moving into the building on Dec. 1, 2020. The affordable rental homes are available to people with a variety of income levels. The monthly rents are:
- four units for people with very low incomes: $375 per month;
- 12 rent-geared-to-income units (people with low to moderate incomes): approximately $539 per month; and
- seven affordable market units: approximately $800 per month.
“It’s great to see people moving into these much-needed homes,” said Sheila Malcolmson, MLA for Nanaimo. “Our government will continue to work with community partners to open more homes people can afford in Nanaimo.”
The Province provided $2.3 million from the Building BC: Community Housing Fund, $2.1 million in construction financing and annual operating funding for the project. The society provided the land, valued at $428,000, and equity of approximately $500,000 for the new building.
“We are pleased to have partnered with the Province on this development and provide affordable housing in this community,” said Taryn O’Flanagan, executive director, Vancouver Island Mental Health Society.
The City of Nanaimo provided $54,000 in municipal waivers.
“Addressing the city’s health and housing needs is a priority for this council, and this investment provides much-needed support for our citizens dealing with mental health and addiction challenges,” said Leonard Krog, mayor, City of Nanaimo. “Congratulations to all involved in bringing this much-needed housing with wraparound services to Nanaimo.”
This project is part of the more than 26,000 new homes that are completed or underway throughout B.C. because of provincial investments.