The Village of Radium Hot Springs recently completed the purchase of a three-unit, long-term rental housing property on McKay Street in Radium.

Housing is a strategic priority of Radium council and the purchase is an effort by the council to begin to make a difference in the ongoing rental housing shortage in the immediate term.

Money from the Growing Communities Fund, which was provided to all municipalities in British Columbia earlier this year, was used for the purchase. The purchase has not impacted taxation in the village.

“Long-term rental housing as an acute need in Radium Hot Springs. The ongoing housing crisis affects everybody in the Village as everyone needs a secure place to live. And business needs workers to serve residents and visitors to our region,” said Radium Hot Springs Mayor Mike Gray.

The purchase of the building will prevent these three legal suites from being converted into short-term rental units, which may have otherwise been the case. The residences will be used to provide homes to Radium or Columbia Valley residents in need of rental housing.

The property will be managed independently of the village administration and it is anticipated that a partnership with the newly-established Columbia Valley Housing Society will be formed to manage and operate these rental units.

This is seen as a first step from the village to help with the need for long-term rental units. Other anticipated actions to promote rental housing in the village may include: a revitalization tax incentive bylaw to promote construction of new purpose-built long-term rental housing and a renewal of the village’s official community plan with promotion of long-term rental housing development in the village as a key goal.

e-KNOW file photo

Village of Radium Hot Springs

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