Work is now underway to bring more affordable rental housing to families, seniors and individuals with low to moderate incomes in Qualicum Beach.
On Tuesday morning, the province announced a new 56-unit apartment and townhome development.
Ravi Kahlon, minister of housing, says this is the first major housing project in Qualicum Beach to be funded through the Building BC investments.
The province contributed $6.3 million to the project through the Building BC: Community Housing Fund and will provide an annual operating subsidy of approximately $313,000.
The federal government also provided $92,000 in seed funding through the Canada Mortgage and Housing Corporation.
“I know it will have a tremendous impact to the community by providing families and seniors with safe, secure housing to grow and prosper,” Kahlon said in a release.
“Working with partners, we’re delivering affordable housing in all corners of the province, and I’m excited to see this project get underway.”
The development is being built on 136 Village Way W. It will be a four-storey wood-frame building with a mix of studio and one, two and three-bedroom apartments, as well as seven three-bedroom townhomes.
The building is also located next to a community garden and within walking distance of schools, medical facilities and public transit.
“This project is another example of the incredible partnerships our government has with local governments and community partners to build new affordable homes,” said Adam Walker, MLA for Parksville-Qualicum. “These new homes will provide security and peace of mind for people, something everyone deserves.”
Qualicum Parksville Kiwanis Housing Society will own and operate the new homes, and residents are expected to start moving into their new homes in early 2025.
This project is part of a $19-billion housing investment by the B.C. government.
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