UPDATE: This project was canceled in 2020 and the City has entered into an understanding (or so I was told) with BC Housing to construct something else, here.
Expected to be finished in 2020 or early 2021, this development will include seven buildings (181 suites) constructed in a close cluster along Third St, up on the hill between Howard Ave and Lambert Ave.
This location will be perfect for VIU students as it's just a 10 minute walk to the classroom, or about 12 minutes to Nanaimo's downtown.
There will be a gym for residents, as well as a public restaurant with a study area and evening entertainment space.
The current plan is for the strata bylaws to allow unit owners to rent their properties to tenants. Pets are also planned to be permitted.
The units are not yet listed for sale, but here are the projected unit types with expected prices (nothing is set in stone yet, and this information was gathered in December 2018):
- Microsuite - 321 sqft - from $119,900
- Bachelors - about 440 sqft - from $159,000
- Studio - 446 sqft - from $159,000
- 1 bedroom - 612 sqft - from $199,000
- 1 bedroom (loft) - about 620 to 720 sqft - from $310,000
- 2 bedroom - 830 sqft - from $299,000
- 2 bedroom with loft master - 1100+ sqft - from $430,000
Got questions about these condos? Want me to keep you in the loop? Contact me.