The City of Revelstoke is exploring options for an affordable housing development on Basford Drive, a Columbia Park road that snakes up the hill near the Best Western Revelstoke.
City staff are requesting council’s support to explore opportunities to develop 127 and 141 Basford Drive as a mixed-market residential development.
“The availability and affordability of housing has become a significant issue in Revelstoke. Over the last several months, staff have been exploring options to address the lack of affordable and available housing options in Revelstoke,” reads a report from Nicole Fricot, Director of Community Economic Development, and Nigel Whitehead, Director of Development Services. A full copy of the report can be viewed here.
The report states staff have been reviewing possible options in Revelstoke for a mixed residential housing development. The Basford Drive locations were identified as having a high potential for success for a number of reasons including:
–Existing city ownership
–Access to city services
–Size of property
–Favourable designation in the Official Community Plan
–Close proximity to transit options
“There is considerable evidence that affordability and availability of housing has become a significant issue in Revelstoke over the last several years,” the report states.
The Canadian Mortgage and Housing Corporation listed the Revelstoke Rental Vacancy Rate for 2016 at 0.4%. The lack of affordable housing has also led to a negative impact on economic development and social well-being. The lack of affordable rentals for employees has become a significant concern for many local businesses.
“Across the board, all organizations and individuals are reporting that local businesses are having difficulties recruiting and retaining staff primarily as a result of inability of workers to secure housing,” states in the report.
As part of the exploration of will complete a housing needs assessment to determine community housing needs and development feasibility of the properties on Basford Drive. The report notes that while it is clear the community is in need of increased affordable housing, clarity is required to determine the most predominant housing needs, such as what sized apartments are most in demand.