Disposition of Land for Rental Housing 

In accordance with Section 26 of the Community Charter, notice is hereby given that it is the intention of the District of Sicamous to enter into an Agreement for the Development of Rental Housing with WCPG Construction Ltd. for the disposition of 1.5 acres of land located at 425 Main Street. The consideration being received by the District for the property disposition is $1.00.

Agreement Terms for Disposition of Land:

• WCPG Construction Ltd. will build and manage a 54-unit long-term rental housing development with 3,900 square feet of commercial space fronting Main Street. The 54-units will consist of 25 one bedrooms, 25 two bedrooms and 4 three bedrooms.
• The District will receive a one-bedroom unit for a discounted price of $500 per month for a term of 10 years.
• A development covenant will be registered on title in favour of the District to ensure the land is built-upon in accordance with the development plan, a public information session is held to the satisfaction of the District, and construction timelines are met.
• A housing agreement will be registered on title in the favour of the District (via Bylaw), requiring the residential units remain as long-term rentals for a minimum of 25 years and 80% of the residential units (44) are occupied by households that meet CMHC's affordability criteria (household income cannot exceed "Middle Income”).
• The District has a $1.00 repurchase option if WCPG Construction Ltd. does not begin construction in accordance with the construction timeline.

The disposition of land supports council's  Strategic Plan (2022-2026) and aligns with the strategic priority area of Housing to "Implement the District Housing Strategy utilizing the Housing Needs Assessment" and "Provide land for the development of a rental housing project within the community."

District council approved the rental housing development agreement on February 14, 2024. To view the staff report and agreement, click here. To watch the presentation and discussion, click here.

For additional information and/or inquiries regarding the land disposition, please email corporate@sicamous.ca.  

Sicamous Housing Projects