The British Columbia government has announced it is investing nearly $7 million on new affordable rental housing in Nanaimo for moderate- and low-income seniors and people living with disabilities.
The government says that work is already underway on the new project, that will bring 62 affordable homes to Nanaimo.
The development is called Sunfield Manor and will be a five-storey building located at 1125 Seafield Crescent.
In total, there will be 54 one-bedroom and eight two-bedroom homes, most with their own patio or deck.
The government says it is providing a grant of approximately $6.6 million through the Building BC: Community Housing Fund and will provide approximately $268,000 in annual operating funding. To aid the project along with the provincial funding, the City of Nanaimo waived development fees totalling $189,000 and the Canada Mortgage and Housing Corporation (CMHC) provided $30,000 in seed funding.
“There’s an urgent affordable housing need for seniors and people living with disabilities in Nanaimo, despite the thousand-plus homes we have opened or are underway,” said Sheila Malcolmson, MLA for Nanaimo. “With non-profit partners like the Woodgrove Senior Citizens Housing Society, we are working hard so people have an affordable place to call home in Nanaimo.”
READ MORE: Demand continues to outpace supply for property in January 2022, says Vancouver Island Real Estate Board
The property is located close to the Nanaimo Regional General Hospital and will have a shared amenity space and mobility scooter storage as well, the government says.
The building will be operated by the Woodgrove Senior Citizens Housing Society, which will have office space in the building.
“Seniors deserve quality housing options that let them live independently in their community,” said Mable Elmore, Parliamentary Secretary for Seniors’ Services and Long-Term Care. “We are working in partnership with all levels of government and non-profits to build homes seniors can afford in communities across B.C.”
The government says that half the units will have rent geared to income, where rent is 30 per cent of the tenant’s income.
Some of the units will also be rented to households with very low incomes, such as those receiving income or disability assistance, or a seniors’ pension, while others will be at or below market rent.
“We have been working on this project for some four years, with a goal of replacing our existing 30-unit building and increasing the availability of low-cost seniors housing,” said Eric Kutzner, director, Woodgrove Senior Citizens Housing Society. “We are looking forward to the start of construction and are thankful for BC Housing and CMHC for their support.”
People are expected to start moving into their new homes in summer 2023.