A new 44-rental-unit apartment with over half the residential space dedicated to affordable housing has been announced for Squamish.
On Feb. 13 Member of Parliament for West Vancouver—Sunshine Coast—Sea to Sky Country, Patrick Weiler announced $17.4 million in funding to help build the Artemis development at 39180 Finch Place.
“I'm truly excited to be here to announce a really exciting milestone. It's because moments like this remind us why we do this work—because everybody in Canada deserves a safe and affordable place to call home,” Weiler said at a press conference at the Artemis site.
“Housing is about having a stable foundation, a place to live, to build a life, raise a family, and plan for the future,” he added. “And Squamish is one of the fastest growing communities in British Columbia—the need for rental housing is especially urgent.
We've seen how the housing shortage has affected people here, workers, seniors, families, because when people can't find a place to live in the communities they work, it puts a strain on businesses, schools and the entire local economy.”
Weiler said that the $17.4 million funding is part of the Apartment Construction Loan Program which provides fully repayable low-interest loans.
The Artemis
Located at the top of the hill at Finch Drive, the Artemis will be a six‐storey building offering a mixture of one, two and three-bedroom units.
Of the 44 rental units, 34 of these new units will be “at least 30% below market prices,” according to Weiler.
One parking spot will be offered per unit, along with bike storage.
The project will also feature common amenities such as an outdoor space, balconies, in-suite laundry and a meeting room.
Diamond Head Development president, Jason Wood said the project was being built with “sustainability and environment in mind.”
“We're proud to say that this building is coming online in 2025. We'll also have duplexes and townhouses in 2025 but all these homes will be brought to the people of Squamish this year, so we're really excited about that,” Wood said at the press conference.
He noted that the project would not have been a viable build without the use of the Affordable Construction Loan Program.
“If I could leave a message, we are in a housing crisis, and until we solve the supply issue—to be able to bring housing to the market more cost-effectively and more efficiently— we need all levels of government and the private sector to work together to solve this problem.”
Weiler said the new development was more than just housing.
“It's about hope,” he said.
“It's about making sure that Squamish remains a thriving, inclusive place where people of all backgrounds can put down roots and build a future. Because where else would you rather be than here?”
For more information on the Finch Drive projects visit the Diamond Head Development website.
