Sun Peaks Mountain Resort Municipality (SPMRM) has partnered with BC Housing in a program designed to speed up the development of middle-income rental housing on low-cost land.
With this BC Builds program, 1180 Sun Peaks Rd., a parcel of land recently purchased by SPMRM from Sun Peaks Resort LLP (SPR), will become Sun Peaks’ first residential rental development.
“BC Builds uses low interest financing and grants to speed up project timelines,” Deanna Campbell, chief administrative officer for SPMRM said. “It reduces the amount of time that it takes to get a building from concept to construction.”
From conception to completion
Middle-income housing has been identified as a need and priority by SPMRM, however Campbell said they haven’t been able to move forward with their goals due to lack of funding.
When the new program became available with BC Housing, SPMRM reached out. The now established partnership, mainly overseen by BC Housing, aligns with their goals and doesn’t require an upfront cost from the municipality aside from the parcel of land they purchased.
Currently in the early stages of the project, BC Housing is seeking developers and builders to submit proposals up until Dec. 5, as stated on the BC Builds development opportunities page.
After that point, a developer will be selected and construction ideally begins 12 to 18 months from that time.
Beyond this stage, Campbell said the details will be worked out as they go along, with rental policies and prices to be determined down the line.
“BC Housing will determine what the rents will be,” she said. “In terms of the eligibility criteria for the units, that’ll be something that the Sun Peaks Housing Authority will need to work on.”
Once the development is up and running, the housing authority will operate and manage it.
To this point, Campbell said they will be posting for a part time housing manager for the housing authority and putting together an operating budget for the development.
As it progresses
There will be a page on the municipality’s website with updates as they move through the timeline of the project, Campbell said.
“I think things will start to move pretty quickly once BC housing has selected a developer and builder,” she added.
A question and answer document will first be posted, expanding further on points regarding the parcel of land and its use, the BC Builds program, why the rental units are middle-income housing and not affordable housing and more information specific to the Sun Peaks BC Builds Housing Project.
“It’s meant to be for individuals and families that live and work full time in the Sun Peaks community,” Campbell said about the goal of this project.
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