A New Chapter for Downtown Nanaimo Housing
Nanaimo’s urban landscape is set to see a significant positive change with the recent approval of a development permit for a new six-storey building on Prideaux St. This exciting project, managed by the Ballenas Housing Society, will introduce 116 much-needed rental units, with a substantial majority being subsidized to ensure affordability.
Key Features of the New Development
This new development aims to replace 50 aging units currently on the property, signaling a crucial step forward in providing modern, efficient, and affordable housing options in downtown Nanaimo. The complex will feature a diverse mix of units, including 29 studio, 70 one-bedroom, and 17 two-bedroom apartments, with approximately 70 percent designated under a rental subsidy program to keep rents below market rates. The design also incorporates practical amenities such as an underground parking lot, bike storage, and short-term bike racks.
Prioritizing Existing Residents
A key aspect of this project is its commitment to the existing residents. Current tenants will be provided with temporary accommodations during the demolition and construction phases, with the reassuring goal of allowing them to return to the new apartments once completed.
Gillette and Associates: Investing in Our Community’s Future
At Gillette and Associates, we recognize the vital importance of such developments in fostering a healthy and vibrant community. Projects like this address critical housing needs and contribute to the overall well-being and stability of Nanaimo. While a specific construction timeline is pending BC Housing approval and other permits, we eagerly anticipate the positive impact this development will have on our city.
This initiative is a testament to Nanaimo’s ongoing efforts to create a more inclusive and accessible living environment for all its residents.
For more details, you can read the full article on NanaimoNewsNOW.
