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.
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.
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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.