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Village buying land for housing, park and roads
The Village of Radium Hot Springs has an agreement in place for the acquisition of just over four acres of vacant land along Ridge Road in north Radium.
The acquisition, pending some procedural steps, is intended to support community and neighbourhood needs including: the development of purpose-built rental housing; a new park in north Radium; and some local road network improvements.
“This is a positive step for both the local neighbourhood and the village as a whole,” said Village of Radium Hot Springs Mayor Mike Gray. “With this land acquisition our community will benefit from more parkland and improved road network at the same time as we continue to tackle the need for rental housing. This should be an overall win for our residents.”
Given the particulars of this transaction, the land for dedicated parkland and road right-of-way is best accomplished through an expropriation process that has been initiated as part of the agreement with the seller. The remainder of the land is being purchased as a traditional purchase.
A $410,000 purchase price for the total property has been agreed to with the seller and the expropriation is amicable. Money from the village’s Parkland Acquisition Reserve Fund, a Federal Housing Accelerator Fund grant, and Provincial Growing Communities Fund grant will be used to pay for the land.
More than half of the land (2.3 acres) will be set aside for possible future housing. And a little more than 1.1 acres will be dedicated as parkland. New rental housing and parkland development will support community development.
Plans for the housing development and the parkland will involve public participation.
The road dedications should help improve traffic flow and parking on Ridge Road. A proposed road connection from Ridge Road to the north is intended to remain unbuilt but will allow the village options in the future if there is need for a connection.
The property is served by existing water and sewer lines and is bounded by sidewalks on its entire southern edge.
Village of Radium Hot Springs
