Van Arsdol Street is seeing the first housing development in 20 years.
Four modern three-bedroom homes with views of the ocean will stand in place of one home that Kevin Stunder purchased two years ago.
“I see this market at the tipping point with jobs that are coming in, which are starting to exceed the housing supply,” Stunder said from outside the recently built walls of the two duplexes.
Stunder is the co-partner of Pacific Aurora Homes Ltd., which has two housing projects in Prince Rupert: the “Van Arsdol Street Homes” project aims to be complete by Christmas, and the plan is to start building “Drake Heights” townhouses and condos on Drake Crescent in the spring.
“We are pleased to see the initiation of Prince Rupert’s first new construction market housing in over 20 years, the last being the townhomes on Bill Murray Drive. This unique infill project is what we are seeking to achieve in our Rebuild planning for Prince Rupert,” said Paul Vendittelli, economic development officer for the City of Prince Rupert.
The price tag on the new units start at $549,000 and go up depending on the view and size of the home. Stunder said the homes on Drake Crescent will be much cheaper. Approximately 12-24 units will be built in phase one with the possibility of building up to 80 units.
Despite three large liquefied natural gas projects dropping out of Prince Rupert, Stunder remains confident in pursuing the housing market in the city. He sees promise in the diversification of the market, with the Port of Prince Rupert expansion at Fairview Container Terminal and Ray-Mont Logistics setting up operations on the North Coast.
“I believe in the jobs in Rupert. Always build where there are jobs,” Stunder said.