A vacant lot near downtown Nanaimo could one day become the site of an apartment building.
Island West Coast Development Ltd., on behalf of Nicol Street Holdings Ltd., recently submitted a development permit application for a proposed four-storey 35-unit rental apartment building with underground parking at 427-449 and 455 Nicol St.
Designed by WA Architects, the proposed building would be comprised of eight micro-units, 15 one-bedroom units and 12 two-bedroom units.
A total of 20 per cent of the 35 units have been earmarked as affordable housing based on the Canada Mortgage and Housing Corporation guidelines.
Micro-units would be 29 square metres in size, one-bedroom units would range from 46 to 72 square metres in size, and two-bedroom units would be between 77 and 84 square metres.
The development would also feature an outdoor amenity area featuring communal seating and a children’s play area.
WA Architects is seeking additional height and density.
In a letter to the city, WA Architects says the development is intended to “provide a modern, cost-conscious affordable rental product that provides large apartments for lower-income families.”
WA Architects says the increased density will “hopefully provide the impetus for similar developments within” the neighbourhood, citing Nanaimo’s 2.5 per cent vacancy rate in 2018.
The proposed development would be located north of Needham Street, near a neighbourhood that is excepted to undergo significant transformation in the coming years.
The area is currently dotted with predominately single-family homes but another development company, Parkshore Projects, envisions bringing more than 1,500 units of housing to the northern portion of the neighbourhood.
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