The mid-August deadline for a Remedial Action Requirement to either complete or demolish the Copper Horn Towne Homes development has been extended.
The Village of Radium Hot Springs sent a Remedial Action Requirement on August 12th to 876334 BC Ltd — the group that took over the title on a large syndicated mortgage for the Copper Horn Towne Homes from a foreclosure action — requesting the six multi-dwelling buildings be either completed or demolished within 90 days from the Requirement (around November 13th).
At the October 14th regular council meeting, Village of Radium Hot Springs chief administrative officer Mark Read accepted a unanimous council decision to amend the resolution to approve an additional 150 days to provide an updated engineering report, plus either an additional 90 days to secure the appropriate building permits or an additional 60 days to demolish.
The decision to postpone the Remedial Action Requirement stems from a desire to communicate with stakeholders and neighbours about the project during a public meeting over the Thanksgiving long weekend.
In addition, there were several submitted letters expressing a strong desire to see the development demolished from surrounding neighbours who view the property as an eyesore that has been faced with little to no penalties from the municipality.
However, the owners of the property are working toward raising money to restructure and continue the project next summer.
“I talked to a few people and their biggest concern is resale,” said Radium mayor Clara Reinhardt. “The view is not that great and then there (are the questions): what’s going to happen? What’s the future? And, what is the value of the property?”
Previously, the applicant provided a structural report by Nelson Engineering Inc. dating back to February 26th which stated the existing buildings are in reasonable condition for continuing the development, but there are areas that will require remedial work such as loft floor deflection; water damaged floor sheathing; damaged floor joists for mechanical plumbing installation; exterior timber deck framing; and exterior concrete slab.
The Village of Radium Hot Springs has requested an envelope report (Business and Marketing Plan) to determine the cost information behind the project and an estimated time of completion.
Ultimately, the Village of Radium Hot Springs has postponed making a decision on realtor Jack Levy’s request to continue working on the project with investor shareholder David N. Murphy until the regular meeting scheduled for the spring of 2016.
“As long as I’m involved, you can expect regular updates,” concluded Levy.