Whistler council approves funding for 78 employee rental units

TWO NEW EMPLOYEE RENTAL BUILDINGS IN CHEAKAMUS CROSSING PHASE 2 WILL BEGIN CONSTRUCTION NEXT MONTH THANKS TO FUNDING APPROVED BY RMOW

BY ROBERT WISLA

TWO NEW EMPLOYEE rental buildings in Cheakamus Crossing Phase 2 will soon begin construction thanks to funding approved by the Resort Municipality of Whistler’s (RMOW) mayor and council.

On March 7, council gave first three readings to a Five-Year Financial Plan Bylaw amendment to use reserve funds to begin construction on 78 units of much-needed employee housing.

The project’s funding will come from the Cheakamus Crossing Affordable Employee Housing Reserve, which currently has about $15 million available in it and was created through selling 24 private market lots in the River Run parcel (one sale is still pending) and the sale of employee ownership units at 1340 and 1360 Mount Fee Road.

Whistler Mayor Jack Crompton believes using the funds created through the first two buildings is a financially prudent use of the reserve, and will help the projects stay on schedule for finishing Phase 2 within council’s four-year term.

“Housing is our community’s top priority, and we’re pleased we’ve created this consistent path to continue this valuable work. By borrowing from the reserve, we’ve created a rolling funding model to build this neighbourhood with less financial risk,” said Crompton in a release.

With funding approved, construction will start in April on the first three-storey, 30-unit rental building, with construction of a second, four-storey building beginning the following month.

With 486 households on the Whistler