180 new 'affordable' rental homes coming to Nanaimo: province

A rendering of the project is shown: (BC Housing)

Nearly 200 new rental units are under construction in Nanaimo, the province announced Tuesday.

The project includes 180 rental homes split between two four-storey buildings located at 560 Third St.

Each building will include commercial units on the ground floor, and a mix of one- and two-bedroom rental suites, one- and two-bedroom lofts, and micro- and studio units above the commercial spaces.

Each unit will also have in-suite laundry and a balcony or patio, according to the province.

Nanaimo MLA Sheila Malcolmson says the rental homes are aimed at middle-income households.

"This new, affordable rental housing project will provide opportunities for Nanaimo residents to live in a vibrant neighbourhood close to where they work, learn and play," she said in a statement Tuesday.

The buildings are being constructed by the Wertman Development Corporation through BC Housing's "HousingHub" program.

The HousingHub program does not directly fund construction of new housing, but does make "low-cost financing" available to developers who build projects specifically for middle-income earners, according to the province.

Construction of the 180 rental units is expected to complete in spring 2023. Details on rent prices were not announced Tuesday.