District of Squamish council will vote on giving first three readings to a housing agreement for a new rental building on Centennial Way. The building is part of phase 1 of the development at 1940 Centennial Way, also called the Mountain Village.
As many as 80 rental units are proposed, a mixture of both non-market and market rental units. Of these, 22 will be non-market or affordable rental units and will consist of of twelve, one-bedroom apartments, six 2-bedroom apartments, and four 3-bedroom apartments.
The housing agreement with the developer will require that two of the 22 units be dedicated to child care workers in the community.
The 4.52 hectare Centennial Way development, previously a min-golf course, is located close to Brennan Park Recreation Centre. The mixed-use development will have 80 apartments in first building, light industrial in the second building, while the third building will have office and daycare space.
For a one-bedroom affordable rental, the rent is expected to be $1,098 for a lone-parent family, $1,484 if rented to a couple. A two-bedroom unit will rent for $1,979, and three-bedroom unit for $2,474.
The above rents are based on 2020 taxation year data for median household income as published by Statistics Canada. New data is expected when the units become available for occupancy and the resulting rents will be updated accordingly.
“The commitment to provide 22 affordable rental units and 58 market rental units in perpetuity will add needed supply to the local rental market. A mix of unit sizes from one to three bedroom units will increase the diversity of tenure options,” notes the staff report to council.
Patricia Brown says
Just a suggestion and hope that only our locals that lived here longer and are struggling for rental places have the first choice and are considered first – only due to so many families splitting up and moving out of town due to no rentals.
SD says
I hope these are built and open quicker than the low cost rental building by HSS school. They keep changing the move in dates for this. I know some of the approved renters are now having to rent a room in someones house as they have given notice to their place they were in so had no where to go and have had to rent a room from co-worker or friend. Such a sad situation here in Squamish. My heart breaks for those looking for affordable yet unavailable rental homes to live in. This new building should have 58 low cost and 22 other as this is more of what we need here. Being a rarity in Squamish now I am one of the very few left that are born/raised here and it makes me so sad that our lifetime locals are leaving as well as our children as they cant afford to live here anymore. Come on Squamish lets do something to fix the problem.