The City of Nanaimo provides incentives for development under a number of tax exemption and grant funding programs. Please note this is not an exhaustive list of grants available in the community and we encourage you to explore other available options.
Downtown Revitalization Tax Exemption Program
Hotel Motel Revitalization Tax Exemption Program
Heritage Building Tax Exemption Program
Heritage Façade Improvement Grant Program
Heritage Home Grant Program
Tax Exemption projects approved:
440 Selby Street – This project involved the construction of a 3-storey boutique hotel with 45 rooms. The Quality Inn opened for business in 2021 and features ancillary meeting rooms, a salon and a 36-seat restaurant. The current assessed value of the property is $2,899,000.
531 Kennedy Street – This development produced a 2-storey, 8-unit multi-family rental apartment building which was open for occupancy in 2021. The current assessed value of the property is $1,773,000.
507 Milton Street - 25-unit strata residential building with 3 commercial units. The anticipated completion date is Dec. 31, 2022 or sooner. The value of the completed development is estimated at $7,539,000.
100 Gordon Street -A Courtyard Marriott Hotel is currently being constructed on this site. The development will be a nine-story, 172-room four-star hotel which includes an indoor pool, fitness area, meeting room and indoor/outdoor restaurant. The estimated value is $22 million. The anticipated completion date is October 31, 2022 or sooner.
521 Hecate Street - The project is a 3-storey, 10-unit multi-family strata residential development. The anticipated completion date is on or before April 30, 2024. The estimated value upon completion is $1,416,275.