Mayor Simon Yu and B.C. Minister of Housing Ravi Kahlon met to open BC Housing’s new building at 605 Quebec Street in downtown Prince George on Tuesday.
The four-storey building, named Quebec Street House, will provide 36 new affordable rental homes for people with low or moderate incomes.
The building has four studio units, six one-bedroom units and 26 two-bedroom units. Rents will range from $860 to $1,000 per month, depending on unit size and tenant income.
Quebec Street House has a common laundry room on each floor and was built as a net-zero, energy-efficient building. The building includes 144 underground parking spaces.
"By investing in safe and accessible buildings, we're taking action to address the housing crisis and provide more affordable rental options to people who call Prince George home," Kahlon said.
He said the building can accommodate a wide range of people from seniors to couples to young families.
“Our government knows the housing crisis is holding people back and it is vitally important that we continue to make investments like this not only in Prince George but in communities through the province.”
The province through BC Housing purchased the building and underground parking back in February 2023 for $15.6 million, including tax and legal fees, through the Affordable Rental Housing Fund.
The building was then sold to BC Housing who provided an additional $543,000 to cover renovation costs. The ministry says an independent appraisal of the site was completed in March 2023 and supports the purchase price.
BC Housing will now manage the building and residents are expected to start moving into their new homes in early September 2023.
"Affordable housing availability is more important than ever in our community right now," said Simon Yu, mayor, Prince George.
"The purchase of this building and the opportunity it will bring for our citizens is a vital step in the continued effort to provide affordable, safe and accessible housing for our rapidly growing community."