BC Housing has officially purchased the Washington Inn apartment complex in Courtenay.

Local MLA Don McRae made the announcement this morning alongside Courtenay mayor Larry Jangula and councilor Doug Hillian.

McRae says the 120 units will continue to be used as subsidized housing rentals for residents.

He adds making this possible was a team effort.

Jangula adds there is a critical need for affordable housing in the Comox Valley and that this is a winning situation for all parties involved.

McRae says BC Housing purchased the property for $3.6 million.