The newly opened building at 360 and 364 Moilliet St. has eight three-bedroom townhomes and 79 apartments, including a mix of one-bedroom, one-bedroom-plus-den and two-bedroom units. (Jordan Davidson/NanaimoNewsNOW)

By NanaimoNewsNOW Staff

much needed housing

New housing opens in Parksville for residents with low to moderate incomes

Jul 15, 2023 | 7:24 AM

PARKSVILLE — A new housing development recently opened in Parksville, providing new affordable living spaces for the city’s most vulnerable.

A combined investment of $30 million from the federal government, the province, Parksville and the RDN brought 87 new rental homes for families, seniors, veterans and people living with disabilities.

The newly opened building located at 360 and 364 Moilliet St. is a mix of one, two, and three-bedroom apartments and eight three-bedroom townhomes, and is owned and operated by the Ballenas Housing Society.

Sixty of the units will have income-based rent which will be 30 per cent of their household income, which includes 17 units reserved for low-income residents. The remaining units will be at market rates.

MLA for Parksville-Qualicum Adam Walker said these homes are the first provincially subsidized rental homes to be built in the community in many years.

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(Jordan Davidson/NanaimoNewsNOW)

“Thanks to the combined efforts of government and community partners, they will provide affordable options for a community with a historically low vacancy rate. This is indeed a welcome addition to the community and we look forward to more developments like it in the future.”

BC Housing provided approximately $9.5 million for the project through the Building BC: Community Housing Fund, and will also provide around $582,000 in annual operating funding.

The federal government provided $750,000 in grants and $19 million in financing through the National Housing Co-Investment Fund.

The City of Parksville and the RDN contributed by waiving $725,000 in fees for the development.

Construction is complete and residents have already started moving in.

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