sold to bc housing — purpose-built rental with policy precision
- 16-unit brand new apartment
- sold at full asking through direct BC Housing strategy
listing
description
174 W 2nd Avenue in Fort St. James was a rare opportunity: a brand-new, purpose-built rental project in Northern B.C. — sold off-market at full asking price to BC Housing. This wasn’t a typical investment sale. It was a strategic acquisition for a government buyer with a complex internal process, and it required experience, relationships, and hands-on execution.
The project included 16 fully leased apartment units across four buildings, plus a dedicated common area facility with a full kitchen, bathrooms, and community meeting space. Eight units were fully handicap accessible, and the others were easily convertible — making this property ideal for seniors housing, independent living, or supportive rental operations. Each unit included high-end touches like in-suite laundry, ceramic tile flooring, central vacuum, and water softeners. Built to a high standard by a local contractor, the project was designed for decades of low-maintenance operation.
What made this sale possible was more than product quality — it was strategy and access. As a director on two non-profit housing societies and a long-standing member of the BC Non-Profit Housing Association, I had built direct relationships with BC Housing decision-makers. That allowed us to navigate the unique approval process efficiently, speak to the right stakeholders, and present the opportunity in a format tailored to their internal evaluation process.
This deal shows the power of specialized experience and sector knowledge. Selling to BC Housing isn’t just about price — it’s about credibility, process, and knowing who to talk to. That’s how we closed this deal smoothly, on time, and at full value.
investment
thesis
A high-quality, purpose-built rental asset in a regional community with strong long-term demand for affordable and accessible housing. Ideal for seniors or non-profit housing providers.
policy
context
Located within Fort St. James’ central residential area, the site aligns with community planning priorities around aging-in-place, independent living, and long-term housing security. The project’s accessibility, energy efficiency, and built-form align with the strategic goals of both municipal planning and provincial housing agencies.
buyer
appeal
BC Housing moved forward because the asset fit their mandate — and the process respected their complexity. With direct access to their team, a tailored submission package, and a well-documented development process, we delivered not just a property, but a policy-aligned solution. The trust I had built through my non-profit housing work made the difference — and helped turn a new development into a secure, lasting community asset.
Purpose-built and fully accessible rental
Sold directly to BC Housing at full asking
Navigated government process with insider knowledge
specifications
Sold Price: $2,500,000
Total Units: 16
Year Built: 2017
Price Per Unit: $156,250
Rentable Area: 11,734 SF
Gross Building Area: 12,620 SF
Lot Size: 12,620 SF
Cap Rate at Sale: 5.68%
Buildings: 4 rental buildings + 1 common area facility
Common Facility Includes:
2 full bathrooms
Kitchen and community meeting space
Parking: 32 Surface Stalls
Accessibility: 8 fully accessible units; all others convertible
Amenities: In-suite laundry, central vac, water softeners, new appliances
Zoning: Residential
Legal Description: Lot A Block 1 Plan PRP1691 District Lot 110 Range 5 Land District 14
PID: 030-068-380
Assessed Value (2019): $1,327,000
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