A vacant lot in north Nanaimo is about to start its transformation into an apartment building with more than 100 units.
A press release from Denciti Development Corp. and Nicola Wealth Real Estate noted that a site work permit will allow for the start of construction on a 108-unit project at 6117 Uplands Dr. close to McRobb Avenue.
Nanaimo city council voted in April to unanimously issue a development permit with a 1.85-metre height variance.
“We are transforming a vacant lot in a prime location into over 100 homes for Nanaimo residents that are looking for rental options,” said Garry Fawley, Denciti CEO, in the release. “We are happy to be moving ahead with this much-needed project. Not only will these units help ease the city’s rental housing shortage, but it will offer renters a desirable place to live close to shopping, schools, medical facilities, and parks.”
RELATED: Council approves permit for 100-unit residential building in north Nanaimo
The release notes that Nanaimo is an economic hub on the Island and is attracting new residents “at a population growth rate that outpaces the regional district, the Island and the province,” but added that the rental vacancy rate of two per cent makes it difficult to find rental accommodations.
Alex Messina, director of acquisitions at Nicola Wealth Real Estate, said the building will provide new construction close to lifestyle amenities.
“We see great opportunity in projects of this kind not only in Nanaimo but across the country,” Messina said. “There has been a 30-year lull in the building of purpose-built rental housing and as a result, renters have had few options.”
Construction is expected to begin in the fourth quarter of 2020, noted the release.
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