Housing society to scale up efforts to increase non-market rental units with city’s support
The City of Revelstoke will provide initial funding to support the efforts of the Revelstoke Community Housing Society to scale up and increase the number of non-market rental units in the community.
At its regular meeting on Tuesday, May 14, Revelstoke City Council voted unanimously to endorse a non-profit housing developer and operator model. Under that model, the Revelstoke Community Housing Society (RCHS) will act as the primary developer and operator of non-market housing units.
While the exact cost is yet to be determined, in a report to council, Paul Simon, Director of Development Services said costs could range from $100,000 to $400,000 per year until RCHS is financially sustainable. There would be no ongoing operational costs for the city.
A 2023 minor update to the City’s Housing Needs Assessment anticipates the need for an additional 477 dwelling units in the community by 2028.