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The first-ever municipally owned residential rental development in Sun Peaks is set to rise on an empty lot in the resort community.
Sun Peaks Mountain Resort Municipality and its Sun Peaks Housing Authority, in partnership with BC Housing’s BC Builds program, is building a 110-unit housing development on a 1.1-hectare plot of land at 1180 Sun Peaks Rd.
BC Builds selected developer Meranti Developments Ltd. as the successful proponent to build the building following a review and evaluation of proposals from developers.
The BC Builds project will provide housing for people living and working in Sun Peaks, a release from the resort municipality stated.
“It is a significant first step to addressing our housing needs,” Mayor Rob O’Toole said of the housing development in a press release.
The building will be six-stories tall and its 110 units will range in size from studio, to one, two and three-bedroom units.
How many of each unit size and the parking allocation will be determined as design work progresses.
The Sun Peaks Housing Authority will own and operate the rental units, the construction of which is earmarked to be complete sometime next year.
All BC Builds units have a target of households with middle incomes spending no more than approximately 30 per cent of their income on rent. Addition, at least 20 per cent of all BC Builds projects will have rents at least 20 per cent below market rate.
BC Builds works in partnership with non-profit groups, local governments, First Nations and the development sector to identify available underused land, provide financing and funding, and deliver projects that create more homes and help bring costs more in line with what households with middle income households.
The Sun Peaks Housing Authority was established in 2018 as an incorporated housing authority and legal entity to oversee the development, administration and management of employee housing in Sun Peaks.
