While selling one of its west-end properties off at a huge loss, the Sault Ste. Marie Housing Corporation hopes the affordable rentals it will eventually offer to women and their children will end up being a big win.
The Sault Ste. Marie Housing Corporation (SSMHC) purchased a former rooming house at 212 St. George's Ave. W. in 2021 with the intention of renovating it to provide additional affordable housing options in the city.
The SSMHC found renovating it would be too challenging for a number of reasons and began looking for another solution for the property at the far end of St. George's Avenue, just west of the former Steelton Seniors Centre.
"Basically, we have $455,000 into it and rather than trying to sell and just get our money back, we issued a [request for proposal] last fall on how we could turn it into affordable housing," said Mike Nadeau, CEO of SSMHC.
During last month's meeting of the SSMHC board, a sale of the property to Sault Ste. Marie-based West Village Development was approved at the cost of $50,000, with conditions.
The conditions for the sale include $350,000 in renovations to the property to be made by West Village Development, with a minimum of 13 units created for women and their children. The units must be offered at affordable rental prices for 20 years and renovations must be completed within one year of the sale date.
"The developer is very interested in social development and wants to revitalize some of the area of the west end and downtown. They seem to really have a great social conscience and that was part of the appeal of awarding it," said Nadeau.
Nadeau said those 13 affordable units are desperately needed in the community.