NORTH RADIUM HOUSING PROJECT
A closer look at the project costs, funding, operating responsibilities and potential taxpayer risk.
MY POSITION
The North Radium housing project could provide much-needed homes for local residents and workers. However, a project of this size must be supported by a realistic budget, clearly defined funding and a transparent plan for construction and long-term operation.
Before moving forward, residents deserve to know the full cost, who will own and manage the development, who will be responsible for future operating expenses and what financial risk the Village and its taxpayers would assume.
As Mayor, I would review the project carefully, preserve the opportunity to create housing and ensure that any decision is based on reliable costs, clear responsibilities and measurable community benefit.
WHAT THE RECORD SHOWS
The Village acquired land on Ridge Road for a potential housing development and retained 2B Developments to guide the project through feasibility and predevelopment work.
By March 2026, the Village reported that a feasibility study had been completed and that site planning, geotechnical, environmental, archaeological, architectural and communications work was either underway or completed. Council then directed staff to proceed with Preliminary Site Plan Option B.
This means the project has moved beyond purchasing land, but important decisions about final design, construction, funding, ownership and long-term operation still need to be settled.
THE CURRENT PLAN CALLS FOR 48 UNITS
The preliminary plan selected by Council proposes three two-storey buildings containing 48 rental units: 30 one-bedroom, 12 two-bedroom and six three-bedroom units.
Option B provides 61 parking spaces. The project’s own bylaw review calculates that 73 spaces would normally be required, leaving the preliminary plan 12 spaces short. The consultant noted that the Village’s procedures allow parking requirements to be varied.
Providing a mix of unit sizes is positive, but the final design should reflect how residents will actually live, including parking needs, accessibility, outdoor space and connections to the surrounding neighbourhood.
THE PROJECT IS ESTIMATED AT MORE THAN $17 MILLION
The Village paid $410,000 for the Ridge Road property. The project’s feasibility report now estimates the total development cost at $17,446,027, including approximately $13.39 million in hard costs, $1.07 million in soft costs, $1.45 million in contingencies and $1.14 million in provincial sales tax.
The proposed financing assumes approximately $10.29 million in BC Housing mortgage financing, more than $5.9 million from various grant programs, the municipal land contribution and another $900,000 in equity or other funding. However, the report describes funding that the project will pursue. The publicly available records do not show that the construction grants, mortgage financing or remaining equity have been confirmed.
Council has also authorized up to an additional $323,415 plus taxes for architectural, engineering and related services needed to take the project to the building-permit stage. This follows the land purchase and earlier feasibility and predevelopment work.
The report describes its construction estimate as preliminary and subject to further design and costing. It also contains figures that need to be reconciled, including conflicting calculations based on the proposed building area. Before further commitments are made, residents should receive a complete accounting of spending to date, an updated construction budget, confirmation of secured funding and a clear statement of the maximum financial exposure for Radium taxpayers.
OWNERSHIP AND OPERATING RESPONSIBILITIES MUST BE CLEAR
Village records identify the Columbia Valley Housing Society as a potential participant, but the publicly available project information does not establish the final ownership or operating structure.
Before construction begins, the Village should clearly explain who will own the buildings, select tenants, collect rent, maintain the property and cover operating deficits or major future repairs.
Affordable housing requires more than building the units. It needs a sustainable operating plan that protects tenants, preserves the property and prevents unexpected costs from being transferred to Radium taxpayers.