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The Rise in Penticton to bring more affordable housing for middle income residents

Another 56 units of affordable rental housing are ready to open in downtown Penticton.

The Rise on Nanaimo will open its doors on Nov. 1, 2019, with the aim of supporting middle-income renters.

<who>Photo credit: OneSky

The building, located at 285 Nanaimo Avenue West, offers a variety of suites and shared amenities for single people, families and seniors.

The Rise has 14 studio units, 20 one-bedroom units, 15 two-bedroom units and 7 three-bedroom units.

Features of the new apartments include in-suite laundry, air-conditioning, balconies, pet-friendly spaces, amenity room, under-building parking, and bike storage.

<who>Photo credit: OneSky

“As OneSky is a non-profit community agency,” says Ian Gerbrandt, Director of Programs. “We can offer monthly rents that are below market. We collect rents that allow us to cover operating costs and future maintenance.”

The project was financed through a unique partnership between OneSky Housing Society, Catalyst Community Developments Society, BC Housing, and the City of Penticton.

The Rise will be featured as an example of innovative housing solutions at the City of Penticton’s Hiring and Work Force Housing Forum on September 18.

<who>Photo credit: OneSky

“The municipality recognizes the importance of housing our community’s workforce locally to ensure we have a vibrant and successful community,” says Andrew Kemp, Penticton’s Economic Development Specialist.

“Providing access to a range of attainable and stable housing options continues to be a challenge and priority for the City.”

The rents are set at a low of $600 per month plus utilities for studio units with open floor plans.

The one-bedroom and two-bedroom units are priced at $825 and $1,000 respectively.

The building also has a number of three-bedroom units for larger families for $1,400. The building also offers seven suites designed for accessibility.

A show suite will be ready in September for people to view.

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