Castlegar Issues Expression of Interest for Gallery & Housing Project

downtownbuildingpurchase (1)

(The old Eremenko Building at 310 Columbia Avenue and 1224 Third Street / Image previously provided by City)

The City of Castlegar is looking for an affordable housing partner for the redevelopment of the old Eeremenko Building at Columbia Avenue and Third Street. The City and Columbia Basin Trust purchased the land for the Kootenay Art Gallery and affordable housing earlier this year. Two of Six conceptual designs presented to City Council on October 4th were highlighted as favorites but require further investigation.

“I love the report and the presentation and I support whole-heartedly the recommendation to issue the Expression of Interest (for a project partner), I believe that’s kind of our step one that we want to do today to get the ball rolling.” says Councillor Bergen Price.

The first highlighted option, 2B, consists of 48 residential units, six stories, over 47,000 square-feet of residential space and over 1600 square-feet of amenity area. The second option, 2C, features 33 residential units, six stories, over 35,000 square-feet of residential space and over 2300 square-feet of amenity space.

Residential construction costs alone are estimated to cost roughly $15.1 million for concept 2B and $11.3 million for 2C. Art Gallery Construction is estimated at roughly $3.9 million for concept 2B and $4.6 million for 2C. Council doesn’t have to pick between these options quite yet, but they didn’t shy from sharing their favorites:

“….So I take it the Gallery is kinda looking towards 2B…. that’s kind of their preference I’m taking it is really what the Gallery wants and it’s my preference too; lower rents, more rentals as well….” says Councillor Sue-Heaton Sherstobitoff.

Prior to applying for grant funding the City needs to partner with a non-profit society to finance the project, manage the housing and more. The Expression of Interest has a closing date of November 2nd. A projected timeline shows Conceptual Development stretching through to next October with Construction lasting between February 2024 and July 2025.