The long-awaited affordable housing project got a boost after council agreed to waive all permitting fees for the project.
“What the society is trying to do is everything in its power to avoid raising the rent so it can balance the budget,” said Mayor Mark McKee, who is also the chair of the Revelstoke Community Housing Society. “I’m not entirely happy we’re asking for this but this is where we are to keep that project affordable.”
The Oscar Street affordable housing project has been plagued by delays. The housing society has selected BPR Construction out of Vernon to build the 12-unit development at cost of about $1.95 million.
McKee said the revised cost is about $165,000 over budget, so the society is looking for savings. The fee waiver will save the project anywhere from $60,000 to $70,000.
He said the society hopes to rent out the units for $550 for a one bedroom and $700 for a two bedroom.
He said the society is still looking for another $100,000 in savings to keep rents low.
The society is in the midst of finalizing building permits and will be sending the final budget to BC Housing.
“I’m fairly optimistic all this will be done in two months. We still have some processes to go through but we are that close,” said McKee.
Council also asked BC Hydro to contribute $250,000 towards the project to offset the impact of the proposed construction of a sixth turbine at Revelstoke Dam. BC Hydro made a similar donation when the fifth turbine was installed.