A $9-million financing arrangement with the provincial government has helped bring about 27 new affordable apartments in Nanaimo.
A press release from the Ministry of Municipal Affairs and Housing on Friday noted that the one- and two-bedroom apartments in the 800 block of Georgia Avenue are now open.
The development was purchased by the Nanaimo Affordable Housing Society with support from a B.C. Housing program, the release noted, with the government providing approximately $9 million in low-cost financing to reduce project costs for the society, which in turn enables the society to offer lower monthly rental rates.
“People deserve to have access to safe and affordable housing in our community,” said Doug Routley, MLA for Nanaimo-North Cowichan, in the release. “I want to thank our community partners, like the Nanaimo Affordable Housing Society, who are working with us to make sure people have a good place to call home.”
Monthly rental rates range between $1,100 and $1,700 and people have started to move in.
“This new project is a welcome addition to our housing stock for moderate- and middle-income singles, couples and small families,” said Andrea Blakeman, CEO of the Nanaimo Affordable Housing Society in the release. “It’s really a lovely building and will be a great place for people to call home.”
Mayor Leonard Krog thanked those who worked on the project, which he said meets goals set out in the city’s affordable housing strategy.