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.
