Terrace, B.C. – A new 35-unit townhome development is set to help fill the housing gap in Terrace.

The City of Terrace got the ball rolling when it granted a development permit at its March 23 meeting.

“We are very excited to contribute to the community,” says Franz Gehriger, president and CEO of SwissReal Group, a Vancouver based commercial and residential property management, development and investment company. “The townhomes are in a very good location, are affordable and we’re excited because we’re so welcome in Terrace.”

He says the McConnell Avenue Townhome Project will feature units approximately 1,500 square feet in size with a price tag between $360,000 or $370,000 to $390,000.

“The vast number of existing and proposed natural resource development projects in northwest British Columbia is driving population growth and increasing demand for attractive, affordable, well-made family housing in the region. Townhomes provide a more affordable alternative to single family homes and a more spacious option than multiple-unit condominium dwellings. We are pleased Terrace City Council embraces our desire to support the growth and prosperity of the city, while enhancing the lives of community residents.”

Gehriger says the company plans to break ground next month.

“We will start with the clearing in the next two weeks and we are now ready to tender the project,” he says. “We believe we’ll start construction in May and it will take a year to two years to complete depending on the market. If it’s an outstanding market we can expedite the project.”

Council’s approval comes just a month after the City approved a new housing plan (see story here).