The provincial government plans to build a new apartment building in Vernon that will create 41 units of “affordable” rental housing, B.C. Municipal Affairs and Housing Minister Selina Robinson said Thursday.
One-bedroom apartments will rent for $787 and two-bedroom units will rent for $962, she said.
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As part of the initiative, the province has also bought two other neighbouring properties in the 3800-block of 27 Avenue that will be fixed up.
Robinson said the project is being built in an effort to deal with the city’s “alarmingly low” vacancy rate.
The province said it is spending $23 million to buy the existing buildings and build the four-storey apartment.
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