More affordable student housing coming to UBCO
More affordable on-campus housing is going up at UBC Okanagan.
With financial help from the BC Government, the university is erecting a new student housing building called Skeena.
The project will add 220 affordable units to the UBCO campus, complete with study spaces, activity rooms, and laundry facilities.
"We guarantee housing to our first year students coming into campus, so this helps us continue to meet that guarantee as well as provide some beds for returning students as well." said UBCO's Shannon Dunn.
Currently, there is a waitlist of over 1,000 students seeking on-campus accommodations. Most of them will end up turning to Kelowna's tight rental market.
"The province has made a commitment to helping support student housing on campus." said Dunn.
"They see it as part of the initiative to provide affordable housing throughout the community. So by helping to house students on campus, it helps release some more affordable beds within the community."
The total cost of the project is $25 million. The BC Government will help bankroll the building with a loan worth $18.7 million, to be repaid through rental income.