The City of Quesnel has received 200 thousand dollars worth of funding from the Northern Development Initiative Trust.
It comes out of their Northern Housing Incentive program and is for a new 57-unit apartment building in downtown Quesnel beside City Hall on Kinchant Street.
Tanya Turner, the Director of Development Services with the city, says it is the first time that Quesnel has been able to utilize this program.
“It’s a program where we’re able to apply, when we’re in the process with the developer, to incentivize that developer to actually finalize and get that project on the ground. As you know it can be difficult in our area in terms of developing marketing housing, especially multi-unit market housing, so this really gives us just an added incentive to really encourage developers to come in and build these units.”
Turner says essentially the developer gets the money once the building is up.
She says the amount of money that you get under the program depends on the number of units.
“It’s a dollars per door program, we can incentivize up to 10 thousand dollars per door for up to 20, so 200 thousand dollars is the total incentive that can be applied here.”
This facility will include 42 one-bedroom apartments and there will be 15 with two bedrooms.
Turner says the city hopes to utilize this program again in the future.
Something going on in the Cariboo you think people should know about?
Send us a news tip by emailing [email protected].