Fernie City Council has approved a 99-year lease of the former fire hall property to the Elk Valley Family Society for a new housing development.
Mayor Nic Milligan says he is eager to tackle Fernie’s housing struggles.
“We see people struggling to find accommodation in Fernie, one that they could afford, and two that is even available,” said Milligan.
“It’s having a big impact on local businesses and residents in the community.”
Under the newly approved lease agreement, the Family Society must pay a base rent of $10, with additional rent requirements for maintenance and property taxes.
This will ensure the city can recover the cost of the property while ensuring affordable rent for tenants.
The building is meant to provide housing for people working in Fernie, with a mix of affordable and market rental units. At least 30 per cent of the total units will have rents below 80 per cent of the provincial median market rent.
The building will be a five-storey 44-unit complex featuring a mix of studio, one, and two-bedroom units with commercial space on the ground floor.
Construction is expected to begin in April or May 2025, with completion slated for early 2027.
Once finished, it will be owned and operated by the Elk Valley Family Society, a local non-profit aimed at providing affordable housing.
The City-owned property at 692 3rd Avenue housed the community’s fire hall until 2022 when the building was deemed unfit to service the department.
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