Construction has wrapped on three new mid-rise apartment buildings on Vancouver Island, bringing 230 new rental suites to the cities of Nanaimo and Parksville. Owned by Guelph-based Skyline Apartment REIT, Uplands Terrace Apartments and Merewood Apartments have added much-needed new rental supply to Nanaimo and Parksville where vacancy rates are 1 and 1.7 per cent respectively. Both cities are among the fastest growing metropolitan areas in Canada.
“Building new, purpose-built rental homes is crucial for Nanaimo, and this project adds significantly to our local housing supply,” said Nanaimo Mayor Leonard Krog. “This new development is exciting for us as it will give more families a wonderful place to call home in our city.”
The new properties will be managed by Skyline Living, which also manages North Point Apartments located at 6971, 6973 & 6975 Island Highway North in Nanaimo. Each new property offers on-site EV chargers and community greenspaces, as well as sustainable suite features like high-efficiency appliances and individual climate control.
At the grand openings in late September, Skyline Living, Skyline Apartment REIT, and development partners Denciti Development Corp. and District Group, announced a total of $31,000 in donations to two Vancouver Island non-profit organizations: Island Crisis Care Society and The Haven Society.
“Canada continues to face a challenging housing crisis, and as rental housing providers, we at Skyline believe that we have a responsibility to take action,” said R. Jason Ashdown, Co-Founder & Chief Sustainability Officer, Skyline Group of Companies. “New, purpose-built rental stock is a key component to addressing this crisis and developments like Uplands Terrace Apartments and Merewood Apartments help to fulfill this need.”
“We are thrilled to be expanding our presence in Nanaimo and entering the city of Parksville, where the demand for quality rental housing is substantial,” said BJ Santavy, Vice President, Skyline Living. “With the grand openings of Uplands Terrace and Merewood Apartments, we will be able to offer homes to more than 200 families on Vancouver Island.”
For more info, visit www.skylineliving.ca
